GE Money, the consumer lending unit of General Electric Company (NYSE: GE), announced the eBay™ MasterCard®, an expansion of its partnership with eBay. The card, announced at eBay Live! today, will be available to customers in late June.eBay MasterCard customers will benefit from a new rewards program, earning one Reward Point for every $1 spent in purchases. Reward Points are also earned with non-Internet, everyday purchases wherever MasterCard is accepted. Points are redeemable for shipping discounts and vouchers that can be used to shop on eBay or to pay eBay seller fees.
Cardholders will enjoy other benefits with the eBay MasterCard, such as the ability to choose from one of three card designs, and the option to add their eBay User ID to the card. The card also features Safe Shipping, which protects them if their item never arrives. The card fits perfectly with PayPal, as customers can view their account activity within their existing PayPal account. Additional benefits include zero percent liability for unauthorized purchases, 24/7 customer service and no annual fee.
eBay will provide promotional and branding support for the eBay MasterCard. GE Money Bank will be responsible for issuing the card, and providing customer service, billing and credit management.
The eBay MasterCard is an expansion of a relationship originally created in June 2004 for GE to offer PayPal Buyer Credit, a private label, revolving credit line available to registered PayPal customers. A PayPal® Plus MasterCard was introduced in May 2006.
“The eBay MasterCard is another great extension of the partnership we’ve built with eBay and PayPal over the past few years to offer rewards, security and convenience for their customers,” said Margaret Keane, president and CEO of GE Money’s Retail Consumer Finance unit. “With the eBay MasterCard, shoppers can apply and buy with an instant online credit process. As with PayPal Plus, there’s no waiting for a card to arrive in the mail before making your eBay purchases.”
“We are excited about the launch of the new eBay MasterCard, and believe eBay members will find the benefits of the card to be compelling,” said Kip Knight, vice president of marketing at eBay.
About GE Money
With $190 billion in assets, GE Money, a unit of General Electric Company (NYSE:GE), is a leading provider of credit services to consumers, retailers and auto dealers in 55 countries around the world. GE Money, based in Stamford, Conn., offers a range of financial products, including private label credit cards, personal loans, bank cards, auto loans and leases, mortgages, corporate travel and purchasing cards, debt consolidation and home equity loans and credit insurance. More information can be found online at www.gemoney.com
GE (NYSE: GE) is Imagination at Work -- a diversified technology, media and financial services company focused on solving some of the world's toughest problems. With products and services ranging from aircraft engines, power generation, water processing and security technology to medical imaging, business and consumer financing, media content and advanced materials, GE serves customers in more than 100 countries and employs more than 300,000 people worldwide. For more information, visit the company's Web site at www.ge.com
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