Verizon Business and First National Bank of Omaha (FNBO) are joining forces to launch a business rewards credit card. Dubbed the Verizon Business Mastercard, the new card will offer up to 3% back in rewards with no foreign transaction fees or annual fees.
About the Verizon Business Mastercard from FNBO
The new Verizon Business Mastercard, issued by FNBO, allows small-to-medium business owners to earn and redeem Verizon Business Dollars toward devices or accessories for their business. The no annual fee credit card offers a full suite of business tools, software integrations, and purchase protection you’d expect from a Mastercard small business card.
Businesses earn 3% cash back (in Verizon Rewards Dollars) on Verizon purchases, like paying your Verizon bill or buying devices from Verizon, 2% back on eligible gas, electronic vehicle charging, and office supplies, and 1% back on other purchases. FNBO and Verizon accelerate the Verizon category for the first billing cycle, with new accounts earning 5% back in rewards at Verizon during their first billing cycle after account opening.
Other features of the Verizon Business Mastercard include:
- New accounts enjoy a $50 statement credit after their first purchase with the card
- No foreign transaction fees
- EMV chip-enabled for contactless payments
- Mastercard benefits and protections
Not the Same Program as the Personal Card
The new Verizon Business Mastercard is not the same program as the Verizon Visa® Card. That card, issued by Synchrony, offers up to 4% cash back on select purchases – including savings on consumer Verizon phone and internet plans.
Brands using different issuers for different aspects of their portfolios isn’t unheard of: Amazon uses Chase for its personal credit cards, while American Express issues its small business credit cards. Amazon also offers a secured store card through Synchrony.
Designed to “Solve Challenges to Drive Growth”
“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, in a press release. “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.”
“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,” added Jerry J. O’Flanagan, Executive Vice President, Partner Segment at FNBO.
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