Last updated on March 15th, 2021
The empowerment of women in the global economy has been a struggle for centuries. In an effort to increase accessibility, Seneca Women, a leading women’s advocacy and media group, is taking steps to improve access to credit to underserved women and help support women-owned businesses at the same time with its new partnership with Mastercard and Deserve.
About Seneca Women’s New Mastercard From Deserve
The Card by Seneca Women’s main feature is the 3% cash back cardholders will earn when they shop at women-owned businesses (included in the Seneca Women Marketplace). At launch, the card will include over one million women-owned businesses in this category, making it a versatile cash back rewards card for those seeking to save while advancing the cause of women’s equality in the global economy.
The Card by Seneca Women will also provide 2% cash back on the cardholder’s top spending category from each billing period and 1% back on all other purchases. Rewards are redeemable for the traditional range of options, including statement credits, travel booking, gift cards, and more.
Cardholders can also use their cash back rewards to support women-focused nonprofits in the Women’s Economic Future Fund. The fund is a nonprofit created through a partnership between Seneca Women and Rockefeller Philanthropy Advisors.
Cardholders will also have continual access to the Seneca Women’s community, including the Marketplace, special events, and media programming. The card will also feature no annual fee.
Helping to Accelerate Gender Equality
“Connecting consumers to women-owned businesses and nonprofits has never been more important than now,” said Kim Azzarelli, Co-Founder and CEO of Seneca Women, in a press release. “Women-owned businesses were hit particularly hard by the pandemic, and they also have the potential to help drive economic renewal. Women also influence the lion’s share of purchasing power. The Card and Marketplace reward consumers who use their purchasing power to shop from women-owned businesses. It also provides a way to use rewards to support nonprofits that advance women at a time when these nonprofits need it most.”
Those sentiments are echoed by Seneca Women partner Sharon Brown, Board Member Board Member of Intercontinental Exchange, Neuberger Berman, and the first African American Commissioner of the U.S. Commodity Futures Trading Commission:
“It was less than 50 years ago that women could be turned down for a credit card based solely on their gender. And today, women continue to face inequalities, from racial and gender pay gaps to lack of access to capital for women entrepreneurs to disproportionately bearing the economic impact of the pandemic. The Card by Seneca Women is part of our answer to these challenges. We believe the Card offers a meaningful way to help accelerate gender equality and create a better future for all.”
Available for Waitlisting
The Card by Seneca Women is expected to launch in the Spring of 2021. Those interested in the card can join the waitlist at the Seneca Women website here.
About Seneca Women
Seneca Women is a global leadership and media company centered on the principle that advancing women and girls will fast-forward us to a more equitable and prosperous world. For more information on Seneca Women, their media, and the Women’s Economic Future Fund, please visit www.senecawomen.com.
Related Article: New Credit Card Designed Especially for Women Announced
Featured photo by Sarah Pflug / Burst
