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NEW YORK - Wal-Mart Canada and GE Consumer Finance on Thursday announced they will introduce the first private-label credit card program for Wal-Mart and Sam's Club warehouse stores in Canada, according to Reuters. The launch is planned for this fall.
The companies have previously teamed up in Argentina, Brazil and Mexico.
The companies said the GE unit will provide marketing, risk management, customer and collections services to Wal-Mart. The agreement includes Wal-Mart's private label consumer credit business, and Sam's Club private label consumer, business revolving charge and business direct portfolios.
"Canada is a very attractive growth opportunity for our business, and partnering with Wal-Mart immediately gives us a strong position in the consumer finance marketplace," said Stephen Motta, chief executive of GE Consumer Finance-Canada.