Cardless Launches Co-Branded Business Credit Card with Alibaba
Cardless, Mastercard and Alibaba.com have teamed up to launch a new co-branded credit card designed to reward businesses for cross-border and domestic sourcing purchases through Alibaba.com. The Alibaba.com Business Edge Credit Card will be the company’s first co-branded U.S. credit card.
This new credit card will enable Alibaba.com buyers in the U.S. to earn rewards on all of their purchases in the form of cashback, or special financing terms. The waitlist for the Alibaba.com Business Edge Credit Card is live and the credit cards will be available for application later this year.
Amongst the benefits that the new card offers businesses are a choice of 3% cashback or 60-day interest-free payment terms on purchases of up to $40,000 made on Alibaba.com per year. After that, cardholders will continue to earn 1% cashback on purchases made on the platform. For purchases made outside of the platform, cardholders will earn 2% cashback on other business expenses such as advertising and dining, and 1% on all other purchases where Mastercard is accepted.
Purchases from Alibaba.com made with the Business Edge Credit Card are also eligible for an extended 90-day order protection through Alibaba.com’s Trade Assurance service, as well as Mastercard World Elite benefits.
Upon approval, businesses are also eligible to receive a $100 sign-on bonus after spending $3,000 in the first 90 days of account opening, up to $100 in Alibaba.com coupons every year after meeting spending minimums, and bi-monthly discounts on Alibaba.com Logistics shipping costs, valued at up to $120 per year. The card has a $199 annual fee.
The card seems to target businesses that make volume purchases through Alibaba, but is not as appealing for the occasional buyer. For more details on the Alibaba.com Business Edge Credit Card, visit https://air.alibaba.com/app/sc-assets/checkout-lp/pages_cardless_lp.html.
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