Verizon is partnering with Mastercard to launch a small business credit card which is designed to unlock value for small business owners across the United States.
Mastercard and Verizon Launching a New Small Business Credit Card
The Verizon Business Mastercard, which is being issued by the First National Bank of Omaha (FNBO), will reward users for purchases of everyday business expenses such as eligible office supplies, technology, fuel and more. Existing Verizon Business wireless customers with less than 100 lines and an online account are currently eligible to apply for the new Verizon Business Mastercard.
Points and Rewards System for Small Businesses
Small business owners who apply and are approved for the Verizon Business Mastercard will earn and redeem points called Verizon Business Dollars. They can then spend these on the likes of devices or accessories for their business.
Cardholders will also be able to spend their points on their Verizon Business wireless bill. There is no annual fee, plus eligible Verizon Business customers who apply and are approved receive $50 toward their credit card statement after their first purchase on the card.
Helping Businesses Become ‘Future-Ready’
The CEO of Verizon Business, Tami Erwin, said: “Mastercard has been a key partner to us on our journey to help our customers of all sizes transform their businesses and ensure they are truly future-ready. We are pleased to expand this partnership to include FNBO and bring this small business credit card to our customers at a time when we know they are seeking new avenues to expand their business, manage costs and maximize their use of new technologies to solve challenges to drive growth.”
Chiro Aikat is the Executive Vice President of Products and Engineering in North America at Mastercard, and added: “Today’s small business owner is looking for smarter, relevant, and customized digital financial products that accelerate their operations and make their lives easier. We’re proud to extend our relationship with Verizon and FNBO to connect the small business segment through meaningful technology and benefits.”
The Executive Vice President of the Partner Segment at FNBO, Jerry J. O’Flanagan, spoke about his bank being the card issuer, saying: “FNBO has a rich history of helping small businesses grow and succeed, so we are excited to partner with such a respected brand as Verizon on the launch of their first program for small business.”
Features and Bonus Benefits
Additional features of the Verizon Business Mastercard include the World Elite Mastercard for Business, which helps small business owners reach new audiences and grow their businesses. It provides access to Microsoft Advertising, Zoho Social and Zoho Marketing Pal. Cardholders will also gain access to Mastercard’s Digital Diagnostic assessment and Digital Doors program.
The Verizon Business Mastercard is also contactless enabled. Once the card is approved, cardholders can begin making purchases immediately either online, in-app or at the point of sale.
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This article, "Mastercard and Verizon Launching a New Small Business Credit Card" was first published on Small Business Trends