Mastercard Partners with Lyft, Adds Additional New Benefits

Mastercard announced a partnership with Lyft and the addition of multiple other new benefits to cardholders.

Holders of World Elite cards will receive a $10 credit after taking five rides in a calendar month. The credit will be applied to the next ride.

Another partnership is with Postmates, where customers who have World and World Elite Mastercards will receive a $5 discount on a $25 or higher order.

In July, Mastercard will introduce mobile phone insurance for those with World and World Elite cards provided the cardholder charges his monthly mobile bill to that card. The maximum claim will be $800 for World Elite cardholders and $600 for World cardholders and it covers stolen or damaged mobile phones including cosmetic screen scratches. Claims are limited to $1,000 per annum.

Another benefit starting in July is identity theft protection, which includes personal information monitoring and identity theft resolution specialists.

Two other benefits being added for World Elite cardholders are a 5% rebate on purchases on Boxed purchases which can be used for future purchases, and double Fandango VIP+ points for movie ticket purchases.

(Photo: Accura Media Group)