BoA launches unlimited cash rewards card
Bank of America unveiled the Business Advantage Unlimited Cash Rewards card on Thursday, October 21, which will offer small business owners unlimited 1.5% cash back on all purchases.
Unlimited Business Advantage cash rewards do not expire and small business owners can redeem them for statement credits and deposits to a Bank of America checking or savings account or for credit to a Merrill account. , all without annual fees.
“Running a business can be tough, but earning rewards on your spending should be simple and convenient,” said Chris Wong, Small Business Product Manager at Bank of America, in the company announcement. “With the launch of the Business Advantage Unlimited Cash Rewards Card, we have simplified the way entrepreneurs are rewarded for their expenses, so they can focus on running and growing their business. “
Preferred Rewards for Business members get an additional 25-75% cash back on every purchase of the Business Advantage Unlimited Cash Rewards card, which means 1.5% unlimited cash back on all purchases can go up to 2.62%. The consumer version of the map was launched in July.
Bank of America also announced a new invoice payment and invoicing solution within its digital platform for small businesses, Business Advantage 360. Customers can choose Essential Payments and Invoicing, which has no monthly fees and is ideal. for single user customers, or Advanced Payments and Invoicing. , which costs $ 30 per month and is suitable for large businesses.
Related news: Bank of America ‘Recipient Select’ Enables Choice of Payments to Consumers
Earlier this month, Bank of America unveiled a new solution called Recipient Select that will allow businesses to give their customers options on how to get paid.
Recipient selection enables users to remove the friction associated with business-to-consumer (B2C) payments, which is gaining popularity among consumers who expect faster and easier experiences. It will provide a “more seamless” experience and will not collect or store payment information, and will also reduce errors through simple validation of customer data.