03:03 PM EDT, 09/05/2024 (MT Newswires) -- Alibaba Group ( BABA ) said Thursday it has partnered with Mastercard ( MA ) and Cardless, to launch the Alibaba.com Business Edge Credit Card to reward small businesses for cross-border and domestic sourcing purchases made through its platform.

The new co-branded US credit card will offer cashback and special financing terms for Alibaba.com purchases, with a waitlist starting on Sept. 5, 2024, the company said.

Cardholders can get 3% cashback and 60-day interest-free payment terms on purchases up to $40,000 per year made on Alibaba.com, with 1% cashback afterward, the online retailer said.

For non-Alibaba.com purchases, the credit card provides 2% cashback on business-related expenses such as advertising and dining, and 1% cashback on all other Mastercard ( MA )-accepted purchases, it said.

Upon approval and an $199 annual fee payment, businesses will receive a $100 sign-on bonus after spending $3,000 within 90 days, along with up to $100 in Alibaba.com coupons annually and bi-monthly shipping discounts worth up to $120 per year, Alibaba ( BABA ) said.

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