Why would an automaker want to launch a small business credit card solution? The answer makes more sense than you might think.
On Monday (Feb. 22), reports revealed that North American automaker FCA is teaming up with First Bankcard and rolling out two SME-focused credit card products.
According to FCA Vice President of U.S. Sales Operations, Fleet and Small Business Sales Jeffrey Kommor, the cards are for the automaker’s small business clients that also operate within the automotive industry.
“We’re introducing a new credit card program with our small business customers in mind as a way to say thank you for their loyalty,” he said in a statement. “Whether you have an independent repair facility or a vehicle fleet for your small business, this new program will provide a positive boost to your operations.”
One of the cards is the Mopar Business Edition MasterCard program, a card developed for independent car repair shop owners, with a pricing and benefits program for these players.
The second is the BusinessLink Business Edition MasterCard program, which provides a rewards program specific to small businesses with their own fleets.
Both offer rewards for SMEs’ auto-related needs, including cash back on purchases made at an FCA dealer, including vehicles, parts and contracts. According to FCA, the solutions were also designed to help small business owners separate their business spend from personal.
“The successful results of the consumer card helped us build this small business program for our retailers and vendors loyal to FCA products,” stated First Bankcard President Stephen F. Eulie in a separate statement. “Our partnership is built upon our ability to help FCA increase loyalty and value to its customers, whether they are small businesses or consumers.”
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