Huntington Bancshares (HBAN) in Columbus, Ohio, has introduced a new MasterCard for business clients as it seeks to expand its card business.
The card offers businesses deferred repayments for up to 50 days without a finance charge and lets them receive rebates on a monthly basis, rather than annually, the $56 billion-asset company said Monday. Huntington intends to market the card to its existing business clients,
The card is best suited for companies with annual accounts payable of between $5 million and $50 million, Huntington said.
In October, Huntington announced that it would hire 250 employees in Ohio for its card business. The decision to hire in its home state came after Ohio removed a cap on interest rates last June.