Mastercard has collaborated with L’Oréal to introduce the L’Oréal Mastercard BusinessCard, specifically designed for beauty professionals and entrepreneurs in Mexico.

This card was initially rolled out by Clara, a spend management solution based in Mexico. It is the region’s sole credit card tailored for the beauty industry and aims to enhance financial inclusion and support the growth of SMEs among salon owners, independent stylists, beauty creators, and distributors within L’Oréal’s professional network. Plans for expansion into other locations across Latin America and the Caribbean are underway with additional financial partners.

Empowering Beauty Industry Professionals

The beauty sector in Latin America and the Caribbean is vital to local economies, offering job opportunities and fostering entrepreneurship. However, the industry heavily relies on cash transactions, accounting for 90% of B2B payments via banknotes, checks, and transfers, which heightens fraud risks and widens the digital gap. This can limit professionals’ access to secure and convenient financial services.

To streamline this process, Mastercard, L’Oréal, and Clara are working together to simplify card issuance and embed financial solutions in places where salon professionals operate. The goal is to transform financial accessibility into a growth driver for the region’s small businesses and entrepreneurs.

Key benefits of the card include discounts and points on salon products from L’Oréal’s network, a $150 welcome bonus on initial inventory purchases, and access to product launches and pre-sales. For non-L’Oréal purchases, cardholders can earn points on other salon expenses, including insurance and utilities, and benefit from rebates through Mastercard’s Easy Savings solution.

Additionally, businesses gain access to growth opportunities such as L’Oréal Academy trainings, workshops, and exclusive industry events. The solution also enables entrepreneurs to manage payments, inventory, and professional resources, all integrated within L’Oréal’s new B2B marketplace. This reduces financial risk, simplifies reconciliation, and offers free access to Clara’s digital expense management platform.

Clara provides 24/7 AI solutions like Financial Analyst for real-time financial insights, compliance support, and identifying savings opportunities for business owners.