Auto Service World
News   June 29, 2004   by Auto Service World

Canadian Tire Opts for New Commercial Card


Canadian Tire has opted to replace its existing commercial credit card.
BMO Bank of Montreal and Canadian Tire Financial Services have partnered to launch the new Canadian Tire Commercial Link MasterCard card for business customers.
The new commercial card, which will be distributed through Canadian Tire Retail store locations, is designed for businesses that require a credit card to pay for their purchases. The new commercial card will replace the current Canadian Tire Business Class Commercial Card starting July 28, 2004. This card is held by more than 50,000 active Canadian Tire business customers.
The new Canadian Tire Commercial Link MasterCard card offers business customers the benefits of BMO Bank of Montreal’s commercial MasterCard capability and exclusive Canadian Tire benefits.
The programs offer a no-fee card option, enhanced online reporting and expense management to exclusive Canadian Tire gasoline discounts and Canadian Tire CashBack rewards.
"Canadian Tire has a strong history of providing innovative financial services and products to our customers as one of the country’s largest issuers of MasterCard. Working with BMO Bank of Montreal, who have excellent commercial card issuing capabilities, will allow us to provide a strong offering to business customers while allowing us to focus our significant consumer expertise on our strategic Options MasterCard platform," said Tom Gauld, president, Canadian Tire Financial Services.
"BMO is extremely pleased to be aligning with one of Canada’s pre-eminent retailers to offer its business customers the conveniences and benefits of a commercial MasterCard," said Randy Ford, managing director, Cardholder Services, BMO Financial Group. "With the growth of online purchasing and the demands to improve productivity, many businesses have adopted commercial cards for business payments, replacing cash, cheques and purchase orders. We are really excited that more businesses will come on board via their special relationship with Canadian Tire. What’s more, with the option to revolve on the new card, BMO Bank of Montreal will also continue to provide small businesses access to the commercial credit they need for cash flow management."


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