Mastercard is partnering with Tillful and Highnote, a pair of San Francisco-based fintechs on a new credit card designed to help small and medium-sized businesses (SMBs) help increase their access to credit and growth capital.
The new Tillful-branded card will enable SMBs to have their payment history reported to credit bureaus to help build business credit quicker and will include a rewards program tailored to SMB owners. Business owners can create an unlimited number of virtual cards for their employees at no cost, as well as to make vendor payments, at no cost, and the new card comes with the option for monthly payments compared to fixed daily or weekly payments.
Highnote will handle the card”™s issuance and program management and Mastercard will serve as the card network.
“As the small business segment continues to grow and digitally transform, it is imperative that we provide tools and resources that work harder for them and create an inclusive economy,” said Sherri Haymond, executive vice president of digital partnerships at Purchase-headquartered Mastercard. “Together with Tillful and Highnote, we are helping small businesses access the credit they need and the digital financial solutions they deserve to build and sustain their operations for the future.”
