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Hudson’s Bay and Neo Financial Announce Strategic Partnership That Delivers a More Rewarding Digital-First Credit Experience for Canadians

Published : Tuesday, February 9, 2021, 5:30 am
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TORONTO--(BUSINESS WIRE)--Hudson’s Bay and Neo Financial are teaming up to bring Canadians a new, digitally-integrated Hudson’s Bay Mastercard that will enhance the customer experience and better reward their lifestyle. The Hudson’s Bay Mastercard - powered by Neo will make it easier than ever for customers to shop, redeem rewards and manage their account security. With no annual or over-limit fees, cash back on everyday purchases, and enhanced service support through a customized app, Canadians can apply and open an account for their new Hudson’s Bay Mastercard in just minutes from their phone, beginning March outside of Quebec, and April in Quebec.



“As we drive our digital-first strategy, we are evolving across all facets of our business to elevate the customer experience,” says Iain Nairn, President and CEO of Hudson’s Bay. “Partnering with a Canadian company, built on innovation and an entrepreneurial spirit, will help us deliver a better shopping experience to Hudson’s Bay customers and, in fact, reward them as they shop with us.”

“Our partnership with Hudson’s Bay demonstrates the opportunity in digital-first financial products and solutions that drive better value and experiences for customers,” says Andrew Chau, CEO of Neo Financial. “Neo Financial is focused on reimagining every financial touchpoint Canadians have, and rebuilding those experiences from the ground up with a customer-first approach. The Hudson’s Bay Mastercard powered by Neo is the next generation of credit card and retail innovation that will provide a unique and highly rewarding experience for all.”

From the simple application process with almost-instant approval, to enhanced service and safety features that include utilizing your phone’s facial recognition technology directly through the Neo Financial app, this Hudson’s Bay Mastercard is one of the most advanced credit options for Canadians today. In just minutes, customers may be approved, load their card to their digital wallet and immediately start making purchases. As part of this new experience, Hudson’s Bay will introduce tap-and-go contactless payment at its cash desks, later this year.

All Hudson’s Bay customers are being invited to register to be the first to know once the official application process launches. Current cardholders can continue to use their existing card until May 3, 2021.

The Hudson’s Bay Mastercard powered by Neo has the following features and more:

  • Earn an average 2% cash back at thousands of local and national Neo Financial partners and businesses, including most major gas and grocery stores, restaurants, gyms, coffee shops and more.
  • Earn double the Hudson’s Bay Rewards points on every dollar spent at Hudson’s Bay, or 2 points on almost every $1 you spend outside of Hudson’s Bay.
  • No annual or over-limit fees.
  • Earn even more through member-only exclusive offers, events and specials throughout the year.
  • Receive proactive alerts and notifications in real-time so you can live life with less worry.
  • Security in a click. Freeze or replace your card, turn off online transactions, and more, right from the app.
  • Manage on-the-go. With Neo’s leading-edge digital app, everything is accessible from your phone.
  • Feel Protected. The Hudson’s Bay Mastercard includes Mastercard’s Zero Liability Protection against unauthorized or fraudulent charges.

The Hudson’s Bay Mastercard can be used wherever Mastercard is accepted worldwide. For more information, including full terms and conditions, please visit thebay.com/neo.

About Hudson’s Bay

HBC, incorporated in 1670, is North America’s oldest company. Hudson’s Bay has grown to become Canada’s most prominent department store, today operating 88 full-line locations and thebay.com. Hudson’s Bay has established a reputation for quality, service, and style by offering well-edited assortments of exclusive and popular fashion, beauty, home and accessory designers and brands, as well as exclusive food concepts. It is part of the HBC brand portfolio. The signature stripes are a registered trademark of Hudson’s Bay Company.

About Neo Financial

Neo Financial (Neo) is a technology company working hard to build a better financial experience for all Canadians. Founded in 2019 by co-founders of SkipTheDishes, Neo is re-imagining spending, savings and rewards by using technology to simplify finances and create rewarding experiences for all Canadians.

Through partnerships with leading financial institutions, Neo provides members with a safe and secure way to spend and save. Neo’s credit card is issued by ATB Financial and backed by the Mastercard network, and the Neo Savings account is provided by Concentra Bank, a CDIC member institution, and is eligible for CDIC deposit protection. Neo is headquartered in Calgary, AB, and is backed by top investors across North America. For more information, please visit neofinancial.com.


Contacts

Hudson’s Bay Media Contact:

Tiffany Bourré
DVP, Communications & PR
tiffany.bourre@hbc.com
416-571-1301

Jessie Reed
Specialist, Corporate Communications
jessie.reed@hbc.com
416-434-1540

Neo Financial Media Contact:

Arianna Dametto
Head of Communications
arianna.dametto@neofinancial.com



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