Consumer Payment Card News

New Mall Card

The apparent success of PNC’s ‘Mall V.I.P. Visa’ has prompted at least one East Coast mall owner/operator to issue a new rewards ‘MasterCard’. Johnstown, Pa.-based Crown American launched the ‘Crown Rewards MasterCard’ yesterday via MBNA America. The new card will be offered through 25 shopping malls operated by Crown American in PA, MD, WV, VA and NJ. The card offers monthly rebates (1% of purchases) in the form of $10 coupons redeemable for mall gift certificates. Consumers applying through the end of this year will receive free stroller rental and gift wrapping for one year.

FULL STORY:
Crown American Realty Trust, the largest owner and operator of shopping mall space in Pennsylvania, has announced it is offering a Crown Rewards MasterCard credit card that gives consumers rebates in the form of mall gift certificates.

The Crown Rewards MasterCard will be issued through an exclusive agreement with MBNA America Bank, N.A., the world’s second largest lender through bank credit cards.

The no annual fee MasterCard has a low introductory rate of 5.9 percent for balance transfers and access checks. In addition, consumers can earn rebates based on one percent of all net retail purchases. The rebates will be issued monthly in increments of $10 coupons that will be redeemable for gift certificates at any Crown American shopping mall.

Consumers who apply for a Crown Rewards MasterCard by December 31 will also receive free stroller rental and free gift wrapping for one year. They will also be eligible to win a $1,000 shopping spree at any Crown American Mall.

“The Crown Rewards program is an innovative way to reward loyal consumers for shopping at their favorite mall,” said Gary Flood, Senior Vice President of Member Relations/U.S., MasterCard International. “We’re very pleased to be part of this exciting program that will encourage Crown American mall shoppers to use their MasterCard which will ultimately benefit them.”

Nineteen Crown American shopping malls will be participating in the program including fifteen properties in Pennsylvania along with malls in Frederick, Maryland; Martinsburg, West Virginia; Newport News, Virginia and Phillipsburg, New Jersey.

“MasterCard is one of the most recognized and widely accepted credit cards in the world. We’re thrilled to be embarking on a relationship with MasterCard and, at the same time, be able to offer our customers an opportunity to extend their buying power at Crown American malls,” said Crown American President, Mark Pasquerilla.

MasterCard International, a payments company with one of the world’s most recognized brands, is dedicated to helping more than 23,000 financial institutions around the world offer consumers a variety of payment options. MasterCard remains focused on helping shape the future of money by expanding acceptance of its global brands (MasterCard(R), Maestro(R), Modex(TM) and Cirrus(R), the world’s largest ATM network) and maintaining reliable, secure networks facilitating global value exchange. MasterCard has 400 million credit and debit cards that are accepted at more than 14 million merchant, cash and ATM locations worldwide. In 1996, gross dollar volume generated exceeded $550 billion. MasterCard can be reached through its World Wide Web site at http://www.mastercard.com.

Crown American Realty Trust is the managing general partner of Crown American Properties, L.P. and a general partner of Crown American Financing Partnership which own, acquire, operate and develop regional shopping malls in Pennsylvania, Maryland, West Virginia, Virginia, New Jersey, Tennessee and Georgia. The current portfolio includes 25 regional shopping malls.

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