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MasterCard Unveils World MasterCard for Business
Premium Payment Card Tailors to High-Spending Small Businesses with Access to MasterCard Unique Experiences
"World MasterCard for Business reflects our commitment to create an innovative, tailored payment solution for high-spending small businesses. This segment is crucial to our customer financial institutions as MasterCard-commissioned study conducted by Research Perspectives Inc. found that industry-wide it makes up 20 percent of the small business card business yet accounts for more than 80 percent of spend," said Bruno Perreault, Group Head, Small and Mid-Sized Enterprises, MasterCard Worldwide. "High-spending small businesses now have a premium payment card option that combines the exceptional access provided by MasterCard Unique Experiences with outstanding spending power and unsurpassed acceptance at over 25 million merchant locations around the world."
A recent MasterCard study, conducted by Quantum Insights, found that 78 percent of high-spending small businesses consider rewards a very valuable benefit on a small business payment card - far more respondents than for any other benefit tested. Responding to this demand, World MasterCard for Business offers a variety of enhanced reward offerings and access to MasterCard Unique Experiences, enabling high-spend small business cardholders to:
- Entertain their team or clients with specially held tables and private dining rooms at world class restaurants
- Gain access to tee times at renowned golf courses
- Reserve office & meeting room space at participating Regus locations throughout the U.S.
Additionally, World MasterCard for Business delivers cardholders important benefits they can use every day, that include:
- No preset spending limit
- Unsurpassed Acceptance - cards can be used at more than 25 million locations worldwide
- Points that never expire
- Enhanced Cardholder protection, including travel accident insurance, Purchase Assurance guarantee and Extended Warranty coverages as well as identity theft resolution services
- Concierge Services to help with reservations, recommendations and emergency assistance
- Special discounts - outstanding offers from the MasterCard Global Premium Collection™ and MasterCard Offers for Business including the world's leading merchants and service providers for travel, lodging, rental cars, software, office supplies, business and technology services
Chase Card Services is the first credit card issuer to launch products on the platform with the introduction of the Continental Airlines World MasterCard for Business card and the GM Business Card World MasterCard. The cards are the first World MasterCard cards available in the market for high-spending small businesses, and are the latest addition to the company's premium card portfolio.
"Business owners have a lot of things on their minds, and maximizing their credit card rewards shouldn't be one of them," said John Delaney, president, business card, Chase Card Services. "In partnership with Continental and GM, we're now providing even more relevant rewards to loyal business cardmembers by leveraging MasterCard's innovative World for Business platform."
To provide additional rewarding experiences, every time GM Business Card World MasterCard cardholders use their card between now and December 31, they will be automatically entered to win a new 2008 Cadillac Escalade.*
Additional information on the Continental Airlines World MasterCard for Business card can be found at www.chase.com/continentalbusiness.com. For additional information on the GM Business Card World MasterCard, consumers may visit www.mastercardbusiness.com/gm.
*NO PURCHASE NECESSARY. Void where prohibited. Prize: $60,000 toward a 2008 vehicle. Car brand/make/model subject to change. PIN-based/international transactions ineligible. Starts 10/18/07. Ends 12/31/07. Restrictions apply. Visit www.mastercardbusiness.com/gm for Official Rules & complete details
About JPMorgan Chase & Co.
JPMorgan Chase & Co. (NYSE: JPM) is a leading global financial services firm with assets of $1.5 trillion and operations in more than 50 countries. The company has more than 154 million credit cards issued. Under the Chase and JPMorgan brands, the firm serves millions of consumers in the United States and many of the world's most prominent corporate, institutional and government clients. Information about the firm is available at www.jpmorganchase.com.
About MasterCard Worldwide
MasterCard Worldwide advances global commerce by providing a critical economic link between financial institutions, businesses, cardholders and merchants worldwide. As a franchisor, processor and advisor, MasterCard develops and markets payment solutions, processes more than 14 billion payments each year, and provides industry-leading analysis and consulting services to financial institution customers and merchants. Through its family of brands, including MasterCard®, Maestro® and Cirrus®, MasterCard Worldwide serves consumers and businesses in more than 210 countries and territories. For more information go to www.mastercardworldwide.com