Daily News: April 7, 2014

Sam’s Extends GE Capital Retail Bank Contract

Sam’s Club, a division of Wal-Mart Stores, finalized a multi-year agreement with GE Capital Retail Bank to extend its existing relationship to provide Sam’s Club-branded credit cards to club members in the U.S. and Puerto Rico.

As part of the extension, GE Capital’s Retail Finance business will continue to manage and service the credit card programs for Sam’s Club Savings, Business and Plus members.

Under the agreement, the Sam’s Club co-branded credit card programs will be converted to MasterCard later this year, providing members with a broader card acceptance network, as well as more robust features and benefits. Walmart has also extended their relationship with GE Capital Retail Bank and branded cards will transition to MasterCard later this year.