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TULSA, Okla. — QuikTrip Corp. is set to debut a private label credit card that will be part of the retailer's loyalty program.
The convenience store chain is working with First National Bank of Omaha and Atlanta-based First Data Corp. to issue the private label card. QuikTrip customers will be able to use the credit card to make purchases at the chain's locations. However, unlike other credit cards, it cannot be used at other retailers, according to Payment Week.
As part of the collaboration, First Data will record the loyalty points earned by customers buying gas and other goods at QuikTrip c-stores.
First National Bank of Omaha will issue the credit to be used by the issued QuikTrip credit cards, the report explained.
First National has already tried issuing private label cards for another convenience store chain, Sheetz Inc., but this will be its first team-up with First Data to issue similar cards.
"We have a product in the market on our own platform now, but we wanted it to be best-in-class," Steve Eulie, head of consumer banking at First National, said about QuikTrip's private label credit card.
He added that partnering with First Data accelerated the process — a capability he previously felt would take years for First National to build in-house, according to the news outlet.
Tulsa-based QuikTrip operates more than 700 convenience stores in 11 states.