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- Equipping businesses with up to 5% cash back on eligible business spend, in addition to an unlimited 1.25% cash back on all other purchases
- New cardholders can access up to $1,760 in first-year value through welcome offers and benefits, with the $175 annual fee waived in the first year
- Access premium travel, health and business protection benefits designed to support business owners
BMO today announced the launch of Canada's market-leading cash back credit card for business owners, the BMO CashBack World Elite Business Mastercard. The new credit card helps business owners get more from everyday business spending with up to 5% cash back on eligible business purchases, along with premium travel, health and business protection benefits.
"Business owners are looking for solutions that help them get more value from their everyday spending while supporting the growth of their businesses," said John McNain, Head, North American Retail and Small Business Payments, BMO. "The BMO CashBack World Elite Business Mastercard delivers industry-leading cash back earning potential alongside premium benefits and protections that help business owners save money, make real financial progress and focus on building their businesses."
"Small business owners are balancing more demands than ever, and the right tools can help them navigate those demands with greater confidence," said Balinder Ahluwalia, Senior Vice President, Commercial & New Payment Flows, Mastercard in Canada. "Together with BMO, we're bringing Canadian business owners an offering that combines meaningful everyday value with benefits and protections designed around how they work, spend and grow."
Industry-Leading Cash Back Rates on Everyday Business Spending
The BMO CashBack World Elite Business Mastercard offers accelerated cash back rates across key business spending categories, helping entrepreneurs earn more from expenses they already incur, with a $1,000 monthly cap per category and no cap on the base rate:
- Gas and electric vehicle charging: 5% cash back.
- Recurring business expenses or recurring bill payments: 4% cash back.
- Shipping, insurance, office supplies and telecommunications services: 3% cash back.
- All other business purchases: 1.25% cash back.
Exclusive Welcome Offers
Get 15% cash back for every $1 spent in any category in the first three months, up to a total of $900.
Convenient Cash Back Redemption, Anytime
Cardholders can redeem cash back at any time starting at $1, by either depositing it into a BMO chequing, savings or InvestorLine account or turning it into a statement credit on their cash back card, or they can set up an automatic recurring deposit starting at $25. Rewards never expire while the account remains open and in good standing.
Complimentary Premium Benefits for Business Owners
- Virtual healthcare: Five complementary visits with a Canadian licensed doctor or nurse practitioner for same-day care, a prescription renewal or help managing an ongoing condition 24/7.
- Travel membership: Complimentary Mastercard Travel Pass membership provided by DragonPass, with access to over 1,400 airport lounges worldwide.
- Roadside assistance: Access to the BMO Roadside Assistance Program.
- Insurance coverage: Travel, medical and rental vehicle insurance.
- Cyber Security: Identify cybersecurity vulnerabilities and help mitigate against online threats with My Cyber Risk.
In addition to rewards and travel benefits, the card includes business-focused protections and security features, including Mastercard ID Theft Protection, purchase protection and extended warranty coverage. Businesses can also get up to 22 additional cards for employees, helping streamline expense management while maximizing cash back earning opportunities.
Supporting the Businesses Fueling Canada's Next Era of Growth
The launch builds on BMO's longstanding role as a partner in building the Canadian economy. As Canada's first bank, BMO has helped turn Canadian ambition into economic growth and has powered the businesses that built the country for more than 200 years:
- BMO serves approximately 500,000 businesses across Canada through dedicated Business Banking colleagues helping business owners start, manage and grow their businesses.
- BMO provides specialized expertise across sectors including agriculture, real estate and healthcare, alongside banking, lending, payments and cash-management solutions.
- BMO offers dedicated programs and financing to support Black, Indigenous and women business owners and entrepreneurs, helping address barriers to accessing capital and supporting business growth.
- BMO continues to invest in digital banking, payments and simplified experiences to make it easier for Canadian business owners to manage and grow their businesses.
In September 2026, BMO announced plans to mobilize up to $70 billion in new capital for critical sectors to Canadian economic security and resilience over 10 years including electricity, energy and transportation infrastructure, mining and critical minerals, AI computing, defence and security, and oil and gas.
To learn more about the BMO CashBack World Elite Business Mastercard, please visit: https://www.bmo.com/en-ca/main/business/credit-cards/bmo-cashback-world-elite-business-mastercard/
To learn more about how BMO is supporting Canadian businesses, please visit: https://www.bmo.com/en-ca/main/business/
About BMO Financial Group
BMO Financial Group is the eighth largest bank in North America by assets, with total assets of $1.5 trillion as of July 31, 2026. Serving clients for more than 200 years, BMO provides a broad range of personal and commercial banking, wealth management, global markets and investment banking products and services across Canada, the United States, and select markets globally. BMO is innovating for business value, by deploying and integrating human, digital and artificial intelligence to personalize client experiences, augment teams, and automate its business responsibly. Driven by its purpose, to Boldly Grow the Good in business and life, BMO is committed to driving positive change in the world, and making progress for a thriving economy, sustainable future, and stronger communities.
About Mastercard (NYSE: MA) Mastercard powers economies and empowers people in 200+ countries and territories worldwide. Together with our customers, we're building a resilient economy where everyone can prosper. We support a wide range of digital payments choices, making transactions secure, simple, smart and accessible. Our technology and innovation, partnerships and networks combine to deliver a unique set of products and services that help people, businesses and governments realize their greatest potential.
SOURCE BMO Financial Group
View original content: http://www.newswire.ca/en/releases/archive/November2026/09/c7728.html
