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Amazon Canada, TD Bank, Mastercard Unveil Amazon.ca Rewards Mastercard

Amazon Canada (AMZN) announced Tuesday that the company, TD Bank Group and Mastercard joined together to launch the Amazon.ca Rewards Mastercard.

Toronto-Dominion Bank's division MBNA is issuing the card on Mastercard's global payments network.

Starting Tuesday, eligible Prime members can earn 2.5 percent back at Amazon.ca and Whole Foods Market in Canada with the Amazon.ca Rewards Mastercard and 1 percent back on all other eligible purchases.

For use in the US or globally, Prime members can earn 2.5 percent back on purchases in a foreign currency. Cardholders who are not Prime members will earn 1.5 percent back on purchases at Amazon.ca and Whole Foods Market in Canada and 1% back on all other purchases.

The company noted that the there is no annual credit card fee and no annual points caps and no expiration date for points.

Every 2,000 points earned are automatically redeemed as a $20 Amazon.ca Gift Card that can be applied on millions of items when shopping at Amazon.ca.

As the introductory offer, all cardholders will get 5 percent back at Amazon.ca, grocery stores and restaurants for six months after account is opened, on the first $3,000 in eligible purchases.

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