Mastercard is teaming with the leadership and media platform Seneca Women and the fintech Deserve on a new credit card program that rewards users for shopping at women-owned businesses.
The new Card by Seneca Women will provide cardholders with 3% cashback when they shop from women-owned businesses included in the Seneca Women Marketplace.
The card will also provide 2% cashback on purchases in cardholders’ top spending category for the month and 1% cashback on every other purchase. The card, which will have no annual fee, is set to launch in the spring.
“At Mastercard, we are endlessly inspired by the ideas and leadership of women entrepreneurs,” said Ann Cairns, vice chairwoman at Purchase-headquartered Mastercard.
“We also understand how hard the last year has been on women business owners and particularly women of color. The Card by Seneca Women represents a collective step forward ”“ it’s a landmark moment that will have a real impact, and we are proud to help shape the new era of women’s economic empowerment.”
