Collaborative Credit Card Launch to Support Small Businesses
Joint Efforts to Support Small Businesses with New Credit Card
In an exciting development for small business owners, Alibaba.com has joined forces with Mastercard and Cardless to unveil a co-branded business credit card tailored specifically for companies engaging in cross-border and domestic sourcing. This strategic partnership aims to offer valuable financial solutions that can enhance the purchasing power of smaller enterprises.
Introducing the Alibaba.com Business Edge Credit Card
The Alibaba.com Business Edge Credit Card stands as the company's inaugural co-branded credit card in the United States. Designed with small and medium-sized enterprises (SMEs) in mind, the card provides an array of benefits including cashback rewards and flexible payment terms.
Rewards That Matter
Cardholders can receive a significant 3% cashback on eligible purchases made through Alibaba.com. For those who opt for the card, an interest-free payment plan is available for up to $40,000 spent annually on the platform, providing flexibility to manage cash flow effectively. Beyond that limit, cardholders continue to earn 1% cashback on additional purchases made through Alibaba.com.
Additional Benefits and Features
Purchases made with the Alibaba.com Business Edge Credit Card are protected by an extensive 90-day order protection policy, ensuring peace of mind for customers. Additionally, cardholders are eligible for exclusive Mastercard World Elite benefits, which provide access to a range of productivity tools and services to help businesses thrive.
Insights from Industry Leaders
Industry experts have expressed enthusiasm about the new card. Rah Mahtani, Head of Marketing at Alibaba.com, noted, "The Alibaba.com Business Edge Credit Card is our latest initiative to deliver real value to SMEs leveraging our platform." Meanwhile, Mastercard’s Ginger Siegel commented on the potential benefits for small business owners, emphasizing access to resources that help them grow.
Special Bonuses for New Cardholders
On top of cashback rewards, new cardholders can take advantage of a sign-on bonus. Upon qualifying criteria, businesses can receive a $100 bonus after spending $3,000 within the first 90 days of opening their account.
About the Companies
Alibaba.com
Founded in 1999, Alibaba.com is a premier platform in global B2B e-commerce, connecting suppliers and buyers from over 200 countries. The platform is dedicated to facilitating smooth transactions and providing businesses with the necessary tools for reaching a broader audience.
Mastercard
As a leader in the payments industry (NYSE: MA), Mastercard's mission is to drive an inclusive economy that benefits everyone universally. Through innovative solutions and partnerships, they aim to simplify and secure transactions globally.
Cardless
Cardless operates at the forefront of fintech innovation, specializing in the development of co-branded credit card products. Their collaborative approach aims to meet the unique credit card needs of various organizations.
Frequently Asked Questions
What is the Alibaba.com Business Edge Credit Card?
The Alibaba.com Business Edge Credit Card is a co-branded credit card designed for small businesses, offering cashback rewards and flexible payment options for purchases.
What benefits does the card provide?
Cardholders receive a 3% cashback on Alibaba.com purchases, a 90-day order protection, and access to Mastercard World Elite benefits, among other rewards.
How can small businesses apply for the card?
Small businesses can join a waitlist for the Alibaba.com Business Edge Credit Card, with applications expected to open later this year.
What is the sign-on bonus for new cardholders?
Upon approval, new cardholders can earn a $100 bonus after spending $3,000 in the first 90 days.
Are there any annual fees associated with the card?
Yes, the Alibaba.com Business Edge Credit Card has an annual fee of $199.
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