BUFFALO, N.Y.—M&T Bank has enhanced its commercial credit card line-up by adding chip technology, a new rewards program and a new card aimed at business executives. All of the new features are designed to improve the client experience and expand M&T’s market share in the commercial credit card business.
“These changes enhance the security and fraud protection of our commercial cards while also providing benefits to our customers. Travelers will benefit from the chip-enhanced card as international adoption for this technology is in everyday use” said Chris Morphew, group vice president for commercial products at M&T Bank.
The introduction of a computer chip into M&T’s commercial cards offers a better point-of-sale experience for cardholders traveling internationally. Commercial cards issued with the encrypted microchips will feature a custom PIN to be used at chip-enabled merchant locations. While the new technology will be available on all of M&T’s corporate cards and purchasing cards, all cards will also continue to have magnetic stripes for transactions at merchant locations unable to accept a credit card chip.
M&T’s new Commercial Card Rewards program allows companies and their cardholders to earn reward points for eligible purchases. Points can be redeemed for a variety of options, including gift cards, merchandise or travel rewards. There are no limits to points being earned and points do not expire.
M&T has also launched a new Executive Card offering, which features exclusive benefits, including a 24-hour concierge service, statement credits for select travel expenses and certain elevated insurance coverage. The Executive Card also includes the chip technology and offers the option of either rewards or rebate to benefit the organization. The M&T Executive card is designed to be an extension of an organization’s main M&T Commercial Card program.
“Launching three new products now, we can provide our clients with more security, rewards and more features for executives in meeting their needs for a commercial card program,” Morphew said.
For more information on M&T’s commercial card offering, please visit www.mtb.com
About M&T Bank
Founded in 1856, M&T Bank Corp. is one of the 20 largest U.S. bank holding companies, with more than 700 branch offices and 1,500 ATMs in New York, Pennsylvania, Maryland, Virginia, West Virginia, Delaware and Washington D.C.
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