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On Thursday, Mastercard Inc (NYSE:MA) unveiled new credit card benefits in collaboration with top health & wellness, travel, and lifestyle brands, aiming to combine daily necessities with enriching experiences.
Partnering with Alo Moves, Booking.com, HealthLock, Instacart Business, Lyft, MoviePass, and ResortPass, Mastercard aims to provide significant value in frequent expenditure areas for consumers and small businesses, enhancing the array of rewards its cardholders currently appreciate.
Research by Mastercard indicates that 87% of American consumers anticipate using their credit card rewards, which significantly influence their purchasing choices.
The enhanced benefits for consumers and small businesses, including zero liability protection, a secure global network, and effortless transactions with countless merchants worldwide, aim to boost the cardholder’s overall value.
By collaborating with Booking.com, Lyft, and ResortPass, Mastercard offers unique benefits designed to maximize value and peace of mind throughout one’s travel, covering accommodation, transportation, and leisure activities.
Additionally, partnerships with Alo Moves, HealthLock, Instacart Business, and MoviePass provide opportunities for cardholders to save on wellness memberships, healthcare, online grocery deliveries, and movie subscriptions.
Prior reports indicated that starting April 15, Mastercard plans to increase specific credit card fees, following closely on the heels of a $30 billion settlement with Visa Inc (NYSE:V) over swipe fees designed to offer financial relief to retailers.
The “assessment” fee will rise from 0.13% to 0.14%, leading to an estimated additional $259.1 million in fees from last year’s transactions, which exceeded $2 trillion, according to the Merchants Payments Coalition. This group, which campaigns for reduced payment fees, revealed the fee increase, noting that such expenses ultimately fall on retailers via banks.
Mastercard stock gained 30% in last 12 months. Investors can gain exposure to the stock via IShares U.S. Financial Services ETF (NYSE:IYG) and SPDR Select Sector Fund – Financial (NYSE:XLF).
Price Actions: MA shares traded higher by 1.16% to $475.20 on the last check Friday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo via Wikimedia Commons
