Walmart Canada has launched a bold initiative that could reshape the everyday shopping experience for millions of Canadian consumers. Teaming up with BMO (Bank of Montreal), the retail giant has introduced a new co-branded Mastercard designed to streamline purchases, reward loyal customers, and target a broader financial demographic. For shoppers already loyal to Walmart, and for Canadians looking for a credit card that offers real everyday value, this new offering could be a game-changer.
The strategic partnership between Walmart and BMO represents more than a standard credit card update — it marks a significant milestone in retail finance collaboration. With Canadians increasingly looking for ways to stretch their dollars in the face of rising inflation and interest rates, financial tools like the Walmart Canada BMO Mastercard offer not just credit, but incentives directly tied to how and where people are already spending. This move signals Walmart’s continued commitment to value and innovation for its Canadian customer base, and its readiness to compete more aggressively in the financial services space, currently dominated by traditional banks and fintech disruptors.
Overview of the Walmart Canada BMO Mastercard
| Credit Card Name | Walmart Canada BMO Mastercard |
| Partnership | Walmart Canada and BMO (Bank of Montreal) |
| Launch Date | June 2024 |
| Card Type | Mastercard — Accepted Globally |
| Main Rewards | Cash back on Walmart purchases, additional categories |
| Availability | Available to residents of Canada only |
Who qualifies and why it matters
Canadian residents with a satisfactory credit rating are eligible to apply for the new Walmart Canada BMO Mastercard. While the specific credit score requirement hasn’t been publicly disclosed, the card will likely target a wide swath of customers — from everyday Walmart shoppers to budget-conscious middle-class families looking for accessible ways to earn rewards on routine spending.
One of the big differentiators of this card is its **focus on accessibility**. Walmart and BMO are aiming to provide an alternative to high-fee, hard-to-qualify cards by keeping approval requirements within reach for the average Canadian. Importantly, this makes the card a potential entry point for younger consumers or newcomers to credit who want to build their financial profile while earning tangible benefits from their purchases.
Main benefits and features of the new card
The Walmart Canada BMO Mastercard comes equipped with several compelling features that are bound to capture the interest of frequent shoppers. These include:
- Cashback Rewards: Cardholders earn a higher percentage of cash back on purchases made specifically at Walmart — both in-store and online via walmart.ca.
- Additional Bonus Categories: Beyond Walmart, the card also rewards spending in everyday categories such as gas stations and dining.
- No Annual Fee: There’s no annual fee, keeping it budget-friendly for most users.
- Digital Wallet Compatibility: The card is compatible with mobile wallets such as Apple Pay and Google Pay.
- Introductory Offers: Early adopters may benefit from sign-up bonuses like increased cash back rates or welcome rewards on first purchases (details pending BMO final announcement).
More than just a credit tool, the card integrates seamlessly into the Walmart shopping ecosystem, creating a pipeline of engagement between consumers and the company’s growing online and in-store platforms.
A deeper look at the rewards structure
Although exact cash back percentages haven’t been confirmed, industry trends suggest that Walmart Canada BMO Mastercard holders can expect somewhere in the range of 1-3% cash back on Walmart purchases. Some analysts anticipate even higher introductory rates during promotional periods.
Crucially, these cash back rewards can be redeemed directly at Walmart, turning ordinary purchases into simple discounts. This eliminates the complex points systems many other cards use, focusing instead on transparency and direct savings — something that resonates strongly among Walmart’s value-based shopping audience.
“The Walmart Canada BMO Mastercard simplifies rewards while remaining financially inclusive — that kind of accessibility is what makes a financial product stand out in 2024.”
— Melanie Curran, Financial Analyst
Why Walmart moved on from its previous setup
Previously, Walmart Canada issued credit cards through a different banking partner. However, this transition reflects a strategic evolution. By aligning with one of Canada’s ‘Big Five’ banks, Walmart gains more brand strength, stability, and deeper integration into the country’s financial networks. BMO, in turn, benefits from the enormous visibility and reach Walmart provides.
For customers, the shift is a net positive. Not only are they gaining access to a card accepted globally through Mastercard’s network, but also backed by the infrastructure, fraud protection, and administration of a leading Canadian bank. In short, the program is now better equipped to handle the ambitions Walmart Canada has for its financial services expansion.
How to apply step-by-step
- Visit your nearest Walmart Canada store and inquire at the customer service desk, or go directly to walmart.ca to start an application.
- Provide your personal details including name, address, income level, and current employer.
- Complete a soft-credit check through BMO to determine eligibility.
- Upon approval, receive your card in the mail. You can also start using the virtual card through your phone immediately in some cases.
- Register your card online to view statements, pay balances, and manage spending preferences.
Once approved, shoppers can begin using the card instantly — both online and at Walmart locations — to begin accumulating rewards from their very first purchase.
Winners and losers of the new credit card
| Winners | Losers |
|---|---|
| Frequent Walmart shoppers | Rival cash back programs with limited scope |
| Consumers seeking no-fee cards | Previous Walmart cardholders needing to switch accounts |
| Younger or credit-new Canadians | Cards with complicated point redemption models |
| BMO customers seeking retail benefits | Smaller retailers lacking co-branded offerings |
What this means for Canadian banking competition
This partnership signals another leap for co-branded credit cards in Canada. As financial literacy grows and consumers become more value-conscious, banks that partner with powerful retail ecosystems stand to attract sticky, loyal users. For Walmart Canada, it positions the company as more than just a retailer — it’s now a player in customers’ financial decision-making processes.
Meanwhile, traditional banks may need to adapt by targeting partnerships or enhancing reward-and-loyalty ecosystems of their own. Rather than just issuing credit, the future lies in customizing everyday payment tools around consumer lifestyles — and Walmart Canada’s latest BMO-backed card does just that.
“Retail-branded credit cards aren’t new, but what we’re seeing here is a reinvention of that category — anchored in everyday utility and low cost.”
— Patrick Gomez, Head of Retail Finance Strategy (placeholder)
FAQs about the Walmart Canada BMO Mastercard
Can I use the Walmart BMO Mastercard outside of Canada?
Yes, the card is a Mastercard, which means it’s accepted at millions of merchants worldwide — not just in Canada or at Walmart locations.
Will I lose points or rewards from a previous Walmart card?
While legacy program details will be managed during the transition, current users may need to re-enroll or merge their accounts. Waiting for communication from Walmart and BMO will be key.
Is this card good for building credit?
Yes, responsible use of this card — including making on-time payments — can help build or improve your credit score over time.
Does the card have any foreign transaction fees?
As with most Canadian credit cards, a standard foreign transaction fee of around 2.5% may apply to overseas purchases. Always check your cardholder agreement for exact rates.
Can I get this card if I bank with someone other than BMO?
Yes, your banking relationship does not have to be with BMO to qualify or manage the card. The card account is administered by BMO regardless of your personal bank.
Are there any annual or hidden fees?
No, the Walmart Canada BMO Mastercard comes with no annual fee. Other charges such as late fees, interest, or foreign transaction fees may apply if triggered.