MasterCard unveils latest business rewards card
MasterCard Worldwide has launched its new 'World MasterCard for Business' payment card platform to provide high-spending small businesses with more spending power, better service, and enhanced rewards.
Being the first business payment card to provide access to MasterCard Unique Experiences, the new card aims to help small business owners to enhance their client relationships, improve their business, or simply reward themselves.
Rewarding a key segment The high-spending small business segment is crucial to MasterCard's client financial institutions, as a MasterCard-commissioned study by Research Perspectives found the Pareto principle (the so-called "80/20 rule") clearly applies, with 20% of small business cardholders accounting for over 80% of card spending.
Another study, conducted for MasterCard by Quantum Insights, found that 78% of high-spending small business owners consider rewards the most valuable benefit of a small business payment card.
Cardholder benefits The new card offers rewards and benefits including:
- Entertaining the business team or clients with specially held tables and private dining rooms at exclusive restaurants;
- Access to and reserved tee times at famous golf courses;
- Office and meeting room space at participating Regus locations throughout the US;
- No preset spending limits;
- Loyalty points that never expire;
- Enhanced cardholder protection, including travel accident insurance, purchase assurance guarantees, extended warranty coverage, and identity theft resolution services;
- Concierge services to help with reservations, recommendations and emergency assistance;
- Special discounts from the MasterCard Global Premium Collection and MasterCard Offers for Business, including offers for travel, lodging, car rental, software, office supplies, and business and technology services.
First cards issued Chase Card Services (part of JPMorgan Chase) has become the first credit card issuer to launch MasterCard World for Business cards. The first cards featured are the Continental Airlines World MasterCard for Business and the GM Business Card World MasterCard.
As a launch bonus, every time GM Business cardholders use their card (until 31st December 2007) they automatically gain an entry into a sweepstake to win US$60,000 toward a new Cadillac.
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