“Providing small businesses with credit to manage their business needs is a key area of focus at WebBank,” said Jason Lloyd, President & CEO, WebBank. “Our goal is to provide the tools necessary for businesses to be successful – and the PayPal Business Cashback Mastercard helps both companies advance their respective missions.” “PayPal’s mission to democratize financial services for all – businesses and consumers – closely aligns to Concerto’s corporate strategy,” said Dan Duncan, CEO and co-founder of Concerto Card Company.
Coupling dynamic, flexible payments technology with compelling rewards and resources, we’re proud to team up with PayPal to deliver tremendous value and access to small business owners in the US.” “The PayPal Business Cashback Mastercard is tailor-made to support small business owners navigating their day-to-day operations. “Small businesses are a force multiplier for our economy, and it’s critical to ensure that they have access to digital tools and solutions that support their needs and growth,” said Sherri Haymond, executive vice president of Digital Partnerships of Mastercard. The business credit card was developed in conjunction with Austin-based Concerto Card Company, WebBank and Mastercard to provide the merchants of the payment platform access to a high-quality, high-value, small business credit card. This new solution continues PayPal’s commitment to supporting small businesses and offering options to help manage the day-to-day costs of operating their business.” “The PayPal Business Cashback Mastercard provides merchants greater value, more choice and the increased flexibility they need to manage their business finances, offering among the best value available on no annual fee business credit cards today. “As small business owners continue to recover from the challenges of the past two years, having multiple financing options to address their capital needs is more important than ever,” said Bernardo Martinez, Vice President of Global Merchant Lending, PayPal. The PayPal Business Cashback Mastercard offers SMB owners the opportunity to qualify for a business credit card. According to the 2022 Small Business Credit Survey conducted by the Federal Reserve Banks, credit cards were the second most common form of financing sought by small businesses. Small businesses need various tools to fund their everyday business expenses flexibly. Account and spending details are easily accessed through the cardholder’s PayPal Business account. Approved businesses are provided immediate access to their assigned credit limit through a virtual card automatically integrated into the business’s PayPal account and immediately available as a payment method when merchants check out with it.
The payment company’s Cashback Mastercard offers a simple way for businesses to pay for everyday business expenses and those that may unexpectedly arise while also earning cash back rewards on all purchases. The card has no annual fee and rewards cardholders with 2% cashback on all purchases with no rewards earning caps or expiration, making it among the highest cash back rewards value available. The PayPal Business Cashback Mastercard, issued by WebBank and powered by the Mastercard network, is a business credit card offered through PayPal. recently announced it is expanding its suite of credit offerings to include a new business credit card to better meet the everyday financing needs of small business owners.
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