Sam’s Club, the wholesale retailer, will accept American Express credit cards beginning October 1, according to the Wall Street Journal.
The credit cards will be able to be used at the store’s 650 locations across the U.S.
“We are delighted to work with Sam’s Club, a retailer that shares our keen customer focus. Their nationwide presence provides more shopping choices to our consumer and small business Card Members, giving them access to great products, brands and services,” according to Anré Williams, the president of global merchant services at American Express, in a statement. “We look forward to working with Sam’s Club to help them reach new customer segments and deliver rich marketing benefits.”
The move comes after Costco, a Sam’s Club competitor, ended its 16-year deal with AmEx earlier this year, which caused the company’s stocks to fall dramatically by over 6% at the time. Costco held exclusive rights to use the credit card, while Sam’s Club won’t be, according to the publication.
Per the newspaper:
In its most recent quarter ended July 31, Sam’s Club reported $14.73 billion in sales. Costco, meanwhile, reported $25.52 billion in revenue for its most recent quarter, which ended May 10.
Sam’s Club CEO & President Rosalind Brewer made Fortune’s Most Powerful Women list for 2015. Find out where she ranked here.
