The new card will initially kick off in the second quarter of 2012 in US states from New York to Massachusetts, said the bank.
According to the service provider, the card will offer reward options such as a full 1% cash back, merchandise, gift certificates or travel rewards.
Currently, the bank has a suite of six business credit cards and commencing of new cards will strengthen the cards’ portfolio, enabling users to choose the cards according to their needs.
Webster Bank unsecured lending director John Weeks said the bank is pleased with this customized approach to best fit our customer’s financial needs and their business’ vision.
"Elan’s experience, partner support, and flexibility to offer us this customized solution based on the strategic requirements of our institution, and most importantly, our customer base, were integral in helping us make this decision," Weeks said.
Elan Financial Services is an agent card partner, which offers payment products as well as end-to-end solution includes servicing and marketing as well as branch support and sales incentives.
Webster Financial Corporation, the holding company for Webster Bank, manages $19bn in assets, and caters business and consumer banking, mortgage, financial planning, trust and investment services in the US.
