Google offers credit card to advertisers
SAN FRANCISCO (Reuters) - Google Inc is introducing a credit card for its advertising customers, offering its clients a credit line to try and drum up business as competition in the online ad market heats up.
Google is offering the card to select U.S. clients with what it calls a competitive interest rate, an ample credit line and no annual fee. The catch: it can only be used to buy search advertising on the world's No.1 Internet search engine.
The AdWords Business credit card marks Google's first foray into the world of vendor financing, common among hardware makers such as IBM Corp. It lets marketers spend more on its search ads when the need arises.
Claire Johnson, vice president of global online sales at Google, said the credit card was designed to help small and medium-sized businesses that advertise on Google but who often don't have the funds to support a heavy ad campaign ahead of a big sales season, such as Valentine's day or Halloween.
"They are resource-constrained and they are often cash flow-strapped. Many of them are trying to grow a business without the kind of means that, say, your classic company has," she said.
Consumer-oriented companies like Macy's Inc and Amazon.com Inc have offered credit cards for years to drive purchases, inspire customer loyalty and track spending habits. Some retailers that own their own credit card operations, like Nordstrom Inc can also earn some interest income.
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