Spring Release 2007
Visa Changes
New Signature Preferred Product – Visa is introducing a new Signature Preferred product for high spending consumer credit cardholders. These cards are considered to be normal consumer cards but when processed, they will qualify for Commercial Card interchange programs.
MasterCard Changes
New Cardholder Account Programs – MasterCard will allow issuing banks the flexibility of upgrading cardholder accounts to a different card product based on consumer needs and spending habits. There are two types of programs:
- MasterCard Enhanced Value platform – MasterCard is implementing new Enhanced Value interchange programs associated with cards registered on MasterCard’s Enhanced Value platform. When a transaction is identified by MasterCard as an Enhanced Value transaction (in the approval process), it will be processed as an Enhanced Value transaction in our system.
- MasterCard Product Graduation – MasterCard is also supporting the migration to different card products without changing the account number. For example, a Gold MC card may be upgraded to a World MC card. Research indicates that consumers carrying rewards type cards generally have higher incomes and spend more at merchants than non-rewards cardholders. These rewards-driven customers represent a business opportunity for merchants.
New Commercial Card Products – MasterCard is also introducing new Commercial Card programs for the high-spend small businesses. World MasterCard for Business, World Elite MasterCard for Business, MasterCard Corporate World, and MasterCard Corporate World Elite will target the affluent business market and offer rewards-type benefits.
Again, should you, after reading the Frequently Asked Questions portion of this Spring Release 2007, have questions regarding this Spring Release 2007, please contact us, using our contact form.
