With the growth in popularity of credit card rewards programs, Citi has announced that Walmart has been added as a Shop With Points partner for the investment banking company’s ThankYou Rewards program.
The partnership is the latest in a line of corporate rewards partnerships for Citi ThankYou card members, Citi said Monday (Oct. 24) in a press release emailed to PYMNTS.
Citi card members can now use Shop With Points as a payment option when checking out in-store at over 4,700 Walmart locations, with points eligible for redemption on at least $10 orders of Walmart groceries, toys, electronics and more.
Walmart joins other big eCommerce and retail brands as an eligible Shop With Points rewards partner, such as 1-800 Flowers, Shell, Best Buy, CVS and PayPal.
Citi’s ThankYou Rewards program also offers card members alternative ways to redeem points, including gift cards, cash rewards and travel points.
Partnered rewards programs are growing in popularity as a means of bringing more eCommerce and retail shoppers back for future purchases. Big credit card and retail companies are also turning to new perks, such as cryptocurrency payments capabilities, to attract a younger clientele.
A PYMNTS report found that 33% of tech-driven consumers buy cryptocurrency to use it for shopping, as shoppers aim for a faster and more secure way to pay for their online purchases.
PYMNTS research has also found that 77% of retailers see digital coupons and rewards as important to consumers’ engagement.
The news comes the same day as an announcement that Walmart has joined financial services technology provider FIS’ Premium Payback credit card rewards network, allowing Walmart customers to get discounts at checkout with a single prompt.
Read more: FIS Adds 5,000 Walmart Stores to Point-of-Sale Rewards Program
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