Alibaba.com and Mastercard Team up to Launch U.S. Co-Branded Business Credit Card Powered by Cardless

Partnership and Product Launch - Alibaba com announced a partnership with Mastercard and Cardless to launch the Alibaba com Business Edge Credit Card, the company's first co-branded US credit card designed for small business owners [1] - The card aims to reward businesses for cross-border and domestic sourcing purchases through Alibaba com, offering benefits such as cashback and extended order protection [1][2] - The waitlist for the card went live on September 5, 2024, with applications opening later in the year [2] Card Benefits and Features - Cardholders can choose between 3% cashback or 60-day interest-free payment terms on Alibaba com purchases up to $40,000 annually, with 1% cashback thereafter [2] - Purchases outside Alibaba com earn 2% cashback on business expenses like advertising and dining, and 1% on all other Mastercard-accepted purchases [2] - The card includes a 90-day order protection through Alibaba com's Trade Assurance service and Mastercard World Elite benefits, such as productivity tools and cyber protections [3] - Additional perks include a $100 sign-on bonus after spending $3,000 in the first 90 days, up to $100 in annual Alibaba com coupons, and bi-monthly shipping discounts worth up to $120 per year [3] - The card carries a $199 annual fee [3] Strategic Importance for SMEs - The card is designed to add value for small and medium-sized enterprises (SMEs) by simplifying sourcing and offering financial management tools [3] - Mastercard emphasized the importance of digital tools and resources for small business success, highlighting benefits like payroll management, business education, and merchant savings [3] - Cardless views this partnership as a step into innovative financial solutions for small business owners, aiming to empower US businesses [3] Company Backgrounds - Alibaba com is a leading global B2B e-commerce platform, serving buyers and suppliers from over 200 countries and regions, and is part of Alibaba International Digital Commerce Group [5][6] - Mastercard is a global payments technology company focused on enabling safe, simple, and accessible digital transactions across 210 countries and territories [7] - Cardless is a fintech innovator specializing in co-branded credit card development, backed by prominent investors and serving major organizations like Simon Property Group and LATAM Airlines [8]