Walmart Canada and Duo Bank of Canada are launching the first-ever Walmart Rewards Mastercard Installment Plan for Walmart customers. The new plan provides flexible ways to pay for larger ticket items and shopping baskets. Duo Bank is the issuer of the Walmart Rewards Mastercard.
Customers can split their in-store and all online general merchandise purchases into six equal installments billed to their Walmart Rewards Mastercard monthly, when the total purchase is $199.99 or more. As part of the launch of the program, the 2.5 per cent set-up fee is being waived for a limited time.
"This is a very exciting new service for our customers and one they've asked for," said Jennifer Jones, vice president of financial products, services and payments at Walmart Canada. "We're a company Canadians rely on for everyday needs, ways to save money and to live better…. We will continue to expand our financial services offering to provide more access, value and inclusion for all Canadians."
The new service will be promoted in stores and online across the country.