BASKING RIDGE, NJ and PURCHASE, NY – Today, Verizon Business announced that it is teaming up with Mastercard and First National Bank of Omaha (FNBO) to launch a credit card designed to bring value to small business owners. In the coming weeks, existing Verizon Business wireless customers with less than 100 lines and an online account will be eligible to apply for the Verizon Business Mastercard®, which rewards purchases on everyday business expenses such as eligible office supplies, technology, fuel, and more.
“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,” said Tami Erwin, CEO of Verizon Business. “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.”
Here is how it works:
The Verizon Business Mastercard®, which is issued by FNBO, will allow small business owners who apply and are approved to earn and redeem Verizon Business Dollars toward devices or accessories for their business. Benefits and features of the card will include:
- Earn Rewards on Eligible Business Purchases*: Earn 5% back on Verizon purchases, like paying your Verizon bill or buying devices from Verizon, during your first billing cycle after account opening; 3% back on Verizon purchases after your first billing cycle; 2% back on eligible gas; electronic vehicle charging and office supplies; and 1% back on other purchases.
- Get More for Your Business: Earn Verizon Business Dollars on eligible business purchases and redeem them later toward new devices or a Verizon Business wireless bill.
- New Cardholder Bonus: Eligible Verizon Business customers who apply and are approved will receive $50 toward their credit card statement after their first purchase on the card* (maximum one bonus per business account).
- No Annual Fee: The Verizon Business Mastercard® has no annual fee or foreign transaction fees.
- Fill Your Digital Toolbox: The Verizon Business Mastercard® features World Elite Mastercard for Business® benefits to help small business owners reach new audiences and grow their businesses, including access to Microsoft Advertising, Zoho Social and Zoho Marketing Pal.
- Assess Your Digital Footprint: Cardholders will have access to Mastercard’s Digital Diagnostic assessment and Digital Doors program, which provides always-on resources for small business owners to set up shop online, grow and manage their business, accept payments, and keep their business protected.
- Safe & Secure Payments Experience: The Verizon Business Mastercard® is contactless enabled. Upon approval for the card, cardholders can begin making purchases immediately online, in app, and at the point of sale after adding it to their mobile wallet.
- Experience Peace of Mind: The Verizon Business Mastercard® offers Mastercard ID Theft Protection™, Zero Liability and Price Protection, in addition to 24/7/365 Global Emergency Services.
This new offering is the result of a multifaceted partnership between Verizon Business and Mastercard to help provide solutions for the global payments and commerce ecosystems. The global leaders continue to work together to couple Verizon’s 5G connectivity with the power of the Mastercard network. Today’s announcement complements Verizon’s network-as-a-service foundation and supports its core areas of growth and innovation across mobility, nationwide broadband, mobile edge computing and business solutions, the value market and network monetization.
“Today’s small business owner is looking for smarter, relevant, and customized digital financial products that accelerate their operations and make their lives easier,” said Chiro Aikat, Executive Vice President, Products & Engineering, North America at Mastercard. “We’re proud to extend our relationship with Verizon and FNBO to connect the small business segment through meaningful technology and benefits.”
“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 businesses,” said Jerry J. O’Flanagan, Executive Vice President, Partner Segment at FNBO.
To find out if your business is eligible to apply for the Verizon Business Mastercard® when it officially launches, visit http://verizon.com/business-mastercard-comingsoon.