Payment Card News

Sears Acceptance

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The difference between a store credit card and a bank credit card in the USA is about 4 million merchants. However, Sears is seeking to narrow the gap by lining up other merchants to take its store credit card. Sears has already laid the groundwork for the new initiative and is on track to expand the acceptance of the Sears Card by this time next year. To-date, Sears has converted more than 20 million of its customers to its Gold MasterCard program. Totally, Sears has 40 million store credit cardholders. The company is seeking merchants that do not compete directly with Sears. Therefore, they are targeting merchants such as airlines, hotels, restaurants, fuel stations, supermarkets and entertainment companies to participate. This month, Sears signed an agreement with Global Payments to be the Sears payment gateway for processing services offered to the Sears new strategic partner companies. For more information visit www.searscard.com.

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