U.S. Bank to Issue Prepaid Cards for Kroger

by Mercator Advisory Group 0

U.S. Bank, which up until now has made its mark in the prepaid business primarily by issuing government benefits and payroll cards, has broadened the scope of its prepaid business by agreeing to issue reloadable prepaid cards for The Kroger Co. that will also offer loyalty rewards for frequent shoppers. By adding additional features beyond just transactions and reloads, the U.S. Bank card offers Kroger a way to build customer loyalty and influence cardholder behavior.

U.S. Bank, lead bank of U.S. Bancorp (NYSE: USB) and The Kroger Co. (NYSE: KR) today announced that U.S. Bank will issue credit cards and reloadable prepaid debit cards with rewards to help Kroger customers save money on groceries and fuel.

Customers who shop at Kroger’s family of stores – including Ralphs, Fred Meyer, Fry’s, King Soopers, Dillons, QFC and City Market – will earn free groceries and fuel discounts with every purchase when they use their 1-2-3 REWARDS(R) MasterCard(R), Fred Meyer Rewards(R) MasterCard(R), Ralphs rewards plus MasterCard(R), or Visa(R) prepaid debit card with 1-2-3 REWARDS(R) from U.S. Bank. Offering this suite of Rewards cards is the next step in a long-standing strategic alliance between U.S. Bank and Kroger.

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