Elan Financial Services is introducing an initiative to bring small businesses a credit card solution, and on Monday (May 16), the firm announced a partnership with Union Bank to make it happen.
According to reports, Elan will facilitate the development of credit card programs to reach Union Bank’s customers, both small businesses and consumers. The products will include Visa and American Express cards with an array of rewards programs, as well as corporate and community business products, the companies said.
“By partnering with Elan, we can offer our customers a competitive suite of products and services, including a menu of credit card types and solutions for the variety of cash, travel and merchandise reward options that meet the needs of our key customer segments,” said Union Bank & Trust President and CEO Billy Beale in a statement.
According to the executive, the collaboration has a mobile payments goal in mind.
“This partnership will also speed up our planned deployment of EMV cards and Apple Pay to our customers,” Beale added.
The bank did not specify whether the small business card solutions will support Apple Pay, however.
According to the companies, the suite of card products includes Visa Bonus Rewards, Visa Bonus Rewards PLUS, Cash Rewards American Express, Travel Rewards American Express and Visa Platinum non-reward products, with the small business card solutions offering comparable rewards programs.