WATERLOO, Belgium -- Europay International, MasterCard's European affiliate, said one of its Italian members has launched a cobranded program in tandem with the Fiat auto company.
Istituto Bancario San Paolo di Torino, Italy's largest bank, is initially offering the Eurocard-MasterCard product through its 1,000 branches. Later in the year, it will become available through the country's cooperative banking network, Europay said.
Users of the card, known as Targa, will accumulate rebates of 5% of purchase amounts, which can be applied to purchases of Fiat, Lancia, or Alfa Romeo vehicles.
Fiat dealers and other designated partners in the program will discount Targa purchases by up to 10%.
"Our objective is to give all present and potential customers a powerful tool to buy one of our cars," said Giorgio Piana, project and marketing senior manager at Fiat. "Our collaboration with San Paolo di Torino and the major cooperative banks... is an innovative approach in Italy and strengthens our ability to serve our clients."
