The Deerfield, Ill., company unveiled an agreement with InComm Payments, the Atlanta global payment-technology company, to expand financial-services options for its customers.
Walgreens and InComm will launch bank accounts, to be established at MetaBank, the Sioux Falls, S.D., financial-services company focused on lower-income individuals.
Walgreens launched its myWalgreens customer-loyalty program in November.
"This new product offering will establish Walgreens as a destination for financial services, building on Walgreens’ legacy as a one-stop shop for pharmacy and convenience," InComm President Stefan Happ said.
Additionally, Walgreens and InComm plan to relaunch the Walgreens-branded gift- card program.
Last week, Walgreens was added to Deutsche Bank's Catalyst Call Buy Idea list while the firm boosted its price target to $55 a share from $49.
Walgreens is scheduled to report its quarterly results before the opening bell on Wednesday.
The company is expected to report net income of $948.4 million, or $1.13 a share, on sales of $36.5 billion, based on a FactSet survey of 20 analysts.
For the year-earlier quarter the company posted earnings of $844 million, or $1.52 a share, on sales of $35.8 billion.
The stock has risen 14% since the company last reported earnings on Jan. 7.