back Back

Mastercard partners with GM and Goldman Sachs on rewards-based credit cards

By Pavithra R

January 18, 2021

  • America
  • Mastercard
Share

Mastercard partners with GM and Goldman Sachs on rewards-based credit cards

Mastercard has announced the formation of a multi-year relationship for co-branded rewards-based credit cards with Goldman Sachs Group and General Motors (GM). 

Under the collaboration, Goldman Sachs will be the issuing bank for GM’s credit card programs, with a targeted start of September 2021. Mastercard will remain the network of choice for the offerings, and current cardmembers will see no changes to their card accounts before this time.

“We chose to partner with Goldman Sachs because of their proven ability to innovate. The foundation of this partnership, including our continued work with Mastercard, is our shared values – to put the customer at the center and deliver exceptional experiences,” said Chuck Thomson, GM general manager of retail sales and marketing support. 

GM has been a leader in co-branded rewards card programs, launching its first consumer card in 1992. Since then customers have redeemed earnings toward the purchase of new Chevrolet, Buick, GMC and Cadillac vehicles.

“We are excited to partner with GM to reimagine the credit card experience for GM customers. Our focus remains on delivering a simple and transparent experience that helps customers manage their spending and borrowing needs better,” said Omer Ismail, Goldman Sachs global head of consumer business.

“We are proud to renew our business with GM and launch this new program with Goldman Sachs. Together, we will drive innovation in loyalty, digital and next-generation payment initiatives,” said Linda Kirkpatrick, president of North America, Mastercard.

Mastercard is a global technology company in the payments industry. It’s Cyber & Intelligence team has been working with SMBs, and the Trust Center is the culmination of such work and partnerships. The firm is committed to building a more inclusive digital economy that works for everyone. As part of its response to the COVID-19 pandemic, the firm has pledged $250 mn in financial, technology, product, and insights support over the next five years to SMBs worldwide, supporting the financial security and vitality of businesses and their workers.

Previous Article

January 18, 2021

Mastercard launches one-stop resource site for SMEs in Asia Pacific

Read More
Next Article

January 18, 2021

PremiaLab appoints former Goldman Sachs, Nomura and Citi exec as its new Senior Advisor

Read More







Advertise with us



IBSi Daily News Analysis

financial organisation, Big data

July 05, 2022

America

Here’s why web scraping will become huge for FS next year

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

July 05, 2022

Powering next-generation BNPL through Installments-as-a-Service: Interview with Nandan Seth, CEO, Splitit

Read More

July 05, 2022

Revolut Business launches Revolut Reader, its first hardware device

Read More

July 05, 2022

ACLEDA Bank selects FSS to strengthen its merchant operations

Read More

Related Reports

Sales League Table Report 2022

£ 1,500.00 / year

Know More
Global Digital Banking Vendor and Landscape Report Q1 2022

£ 1,500.00 / year

Know More
Wealth Management & Private Banking Systems Report Q1 2022

£ 1,500.00 / year

Know More
Global Transaction Banking Vendors and Landscape Report Q1 2022

£ 1,500.00 / year

Know More
Treasury and Capital Markets Systems Report 2021

£ 1,500.00 / year

Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
close-link
Get your copy now! IBSi Sales League Table 2022