CVS launches payment card with HSBC

PROSPECT HEIGHTS, Ill. CVS/pharmacy and HSBC have partnered to create a CVS-branded loyalty rewards payment card that will link cardholders' checking account to their ExtraCare account. The company plans to introduce the CVS ExtraCare Plus card in the middle of 2007 at its 141 Indianapolis-area stores.

"The CVS ExtraCare Plus rewards payment card allows customers to receive their ExtraCare rewards benefits and securely pay for their merchandise with the swipe of just one card, which allows for a convenient and speedy customer checkout," said Peter Nash, director of treasury operations for CVS/Caremark. "We look forward to introducing this pilot program to our Indianapolis customers this summer."