Wells Fargo Unveils Signify Business Cash Mastercard for Businesses

Friday, 10/05/2024 | 15:52 GMT by Tareq Sikder

The card offers benefits without tracking categories, and includes employee cards.

It provides MasterRental Insurance Coverage, Priority PassTM, and Mastercard ID Theft ProtectionTM.

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Wells Fargo & Company (NYSE: WFC) has unveiled its latest offering for business owners, the Signify Business Cash World Elite Mastercard, designed to address the needs within the cash rewards business credit card market. This new card aims to provide business proprietors with straightforward rewards and tangible value.

New Business Card: Cash Rewards and No Categories

The Signify Business Cash card offers unlimited 2% cash rewards on business purchases, without caps or categories for tracking, and a $0 annual fee. New cardholders can earn a cash rewards bonus by spending a specified amount within the initial three months of card ownership.

Jeff Hofmann, Head of Small Business Card for Wells Fargo, Source: LinkedIn

Moreover, business owners can extend the benefits to their employees at no extra charge. The card also offers supplementary perks including Zero Liability protection, account alerts, and compatibility with digital wallets.

“At Wells Fargo, we recognize that managing a small business can be complicated and business owners need the best tools to continue to succeed. Business owners told us that cash rewards programs had become too complex and didn’t provide enough value for their business,” said Jeff Hofmann, Head of Small Business Card for Wells Fargo. “We designed Signify Business Cash to give business owners the spending capacity they need to better manage their cash flow with the simplicity, value and transparency they want.”

Business Rewards Program: Redemption Options

John Levitsky, president, US Financial Institutions, Mastercard, Source: LinkedIn

Cardholders can leverage the Wells Fargo Business Rewards Program for flexible redemption options. These options encompass redeeming cash rewards as a statement credit to their Signify Business Cash account, direct deposit into an eligible Wells Fargo savings or checking account, or for alternative uses such as gift cards or travel expenses.

Furthermore, cardholders will gain access to the World Elite Mastercard benefits suite, featuring offerings like MasterRental Insurance Coverage, Priority PassTM, and Mastercard ID Theft ProtectionTM.

“The new Signify Business Cash World Elite Mastercard prioritizes the rewards and benefits that small business owners value most,” said John Levitsky, president, US Financial Institutions, Mastercard. “We worked closely with Wells Fargo to create a product that makes running a business even more rewarding."