wells fargo We have launched a corporate credit card that offers easy-to-understand cash rewards.
new Signify Business Cash Worldwide Elite Mastercard It will offer unlimited 2% cash rewards on business purchases with no annual fee, no tracked caps or categories, the financial services company announced Thursday (May 9). press release.
“Managers told us that cash compensation programs were too complex and did not provide enough value for their business.” Jeff HoffmanWells Fargo's head of small business cards said in a release. “We designed Signify Business Cash to give business owners the spending power they need to better manage their cash flow with the simplicity, value and transparency they demand.”
Along with the 2% cash reward on business purchases, the new card also offers a $500 cash reward bonus if cardholders spend $5,000 on business purchases in the first three months, according to the release. will be provided.
Other benefits include an employee card at no additional cost, liability protection, account alerts and a digital wallet, the release said.
When you access Wells Fargo Business Rewards ProgramCardholders can redeem cash rewards as a statement credit, as a direct deposit into an eligible Wells Fargo savings or checking account, or for gift cards, travel or other products, according to the release. .
“The new Signify Business Cash World Elite Mastercard prioritizes the perks and benefits that small business owners value most.” John Levitskysaid Mastercard's president of U.S. financial institutions in a release. “We have worked closely with Wells Fargo to develop products that make running a business even more rewarding.”
PYMNTS Intelligence finds that Main Street small and medium-sized businesses (SMBs) business credit card Better than any other working capital solution.
for example,”Main Street Health Q4 2023”, PYMNTS Intelligence and enigma collaboration.
PYMNTS Intelligence also found that, like businesses, consumers also prioritize: cashback benefits This suggests that they are looking for more direct and tangible benefits than what is currently offered.
For example, 41% of Gen Z consumers said they were dissatisfied with the benefits they received, and 36% chose to receive cashback. ”Credit economics: The role of rewards programs in consumer credit card use.”, PYMNTS Intelligence and i2c collaboration.
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