Market Overview

Walmart and Capital One Sign Credit Card Program Agreement


Capital One to become exclusive issuer of Walmart credit cards

Walmart and Capital One today announced that the companies have entered
into a new, long-term credit card program agreement.

Under the terms of the agreement, Capital One will become the exclusive
issuer of Walmart's private label and co-branded credit card program in
the U.S. beginning August 1, 2019.

Walmart and Capital One share a common goal of transforming the way they
serve customers through digitally-led innovations. This new relationship
combines Walmart's size, scale and leadership in omni-channel retailing
with Capital One's long-standing position as a technology leader within
the retail financial services market. Leveraging their respective
technology platforms and individual capabilities, Walmart and Capital
One intend to offer highly innovative, digitally-enabled credit card
products that deliver great value to customers and an exceptional
cardholder experience.

Walmart will provide additional information in the coming months
regarding the anticipated transition to the new card program in 2019.

Moelis & Company and Greenhill & Co. acted as financial advisers to
Walmart and Morrison & Foerster served as Walmart's legal counsel.
Wachtell, Lipton, Rosen & Katz acted as legal counsel to Capital One.

About Walmart

Walmart Inc. (NYSE:WMT) helps people around the world save money and
live better - anytime and anywhere - in retail stores, online, and
through their mobile devices. Each week, nearly 270 million customers
and members visit our more than 11,700 stores under 65 banners in 28
countries and eCommerce websites. With fiscal year 2018 revenue of
$500.3 billion, Walmart employs approximately 2.3 million associates
worldwide. Walmart continues to be a leader in sustainability, corporate
philanthropy and employment opportunity. Additional information about
Walmart can be found by visiting,
on Facebook at and
on Twitter at

About Capital One

Capital One Financial Corporation (
is a financial holding company whose subsidiaries, which include Capital
One, N.A., and Capital One Bank (USA), N.A., had $248.2 billion in
deposits and $364.0 billion in total assets as of June 30, 2018.
Headquartered in McLean, Virginia, Capital One offers a broad spectrum
of financial products and services to consumers, small businesses and
commercial clients through a variety of channels. Capital One, N.A. has
branches located primarily in New York, Louisiana, Texas, Maryland,
Virginia, New Jersey and the District of Columbia. A Fortune 500
company, Capital One trades on the New York Stock Exchange under the
symbol "COF" and is included in the S&P 100 index. Visit the Capital One
newsroom for more Capital
One news

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