Costco Wholesale has teamed up with Mastercard and Orient Corporation to roll out a new co-brand credit card programme in Japan.
Under the terms of the agreement, all Mastercard-branded cards will be accepted at Costco stores starting February next year.
Orico will act as the exclusive issuer of Costco’s co-branded card and Mastercard will substitute American Express (Amex) as the credit card network for Costco in Japan beginning 1 February 2018.
Costco’s new co-branded credit card will not charge any annual fee and will provide rewards and benefits to Costco members.
The card will be accepted by all merchants, which accept Mastercard credit cards, including Costco locations worldwide that accept Mastercard.
Costco will provide its members required information in the coming months regarding the anticipated transition from its existing credit card programme and the details of its new co-branded card with Mastercard.
Costco will continue accepting American Express cards for shopping at Costco in Japan until 31 January 2018.
Costco Wholesale operates more than 730 warehouses in 11 countries/areas such as including the US, Canada, Mexico, the UK, Korea, Taiwan, Australia, Spain, Iceland, France and Japan.