NatWest has extended the Mastercard Business Savings program to include small business debit card customers in the United Kingdom.
Previously, the program was only available to NatWest and RBS business credit card holders, the bank said in a Thursday (May 30) press release.
The program allows small business customers to access merchant offers and cashback when using an eligible Business Mastercard at participating merchants, according to the release. The offer is now available to NatWest, RBS and Ulster Bank business banking customers.
The Business Savings program aims to provide cost-saving opportunities for small businesses, helping them reduce expenses and improve their financial health, the release said. It is designed to be simple and convenient for cardholders, with no cost involved, no card registration required, and no need to enter coupons or discount codes at the point of sale. Cashback is automatically credited to the card or bank statement within three to five days.
With over 1,000 merchant offers available, the Business Savings program covers a wide range of categories including hospitality, hotels, business tools, entertainment and more, per the release. As new merchants enroll in the program, more offers will be added.
One of the key advantages of the program is its accessibility, according to the release. All cardholders with an eligible business debit card product are automatically enrolled in the program, eliminating the need for registration. However, cardholders have the option to opt out if they wish to do so.
Andrew Harrison, managing director of customer goals and journeys at NatWest, said in the release: “Cost savings are front of mind for all businesses, but especially smaller businesses, which is why we are offering this simple solution to help reduce elements of those costs. We are delighted to be able to offer a feature that is common among personal card users to businesses.”
Simon Forbes, senior vice president at Mastercard, said in the release: “Small businesses drive the U.K. economy forward. That’s why we’re proud to support NatWest in bringing this savings program to a million cardholders, without additional cost or hassle.”
NatWest Group serves over 19 million customers in the U.K., operating in retail, commercial and private banking markets. Mastercard aims to connect and power an inclusive, digital economy, with connections across more than 210 countries and territories.
In other recent news, Mastercard said Thursday that it has unveiled a center in Europe aimed at tackling cybercrime in the region. The Europe Cyber Resilience Center (ECRC) is designed to improve defenses against cyberthreats and act as a hub for “thought leadership in cybersecurity.”
