Ge

General Electric (GE) an industry leader in several areas and has been entering the money market for some time. GE has several subsidiaries within their company; one in particular is GE Money, formally known as GE Consumer Finance. This division of GE is the leading provider of banking and credit services to consumers, retailers, auto dealers and mortgage lenders in approximately 50 countries. 75% of the net income of GE Money is generated outside the United States. In 2006 the revenue of this department alone is $21.7 billion with 50,000 employees. The products offered are corporate travel and purchasing cards, credit cards, debt consolidation, home equity loans, mortgage and motor solutions and personal loans. The area where GE Money is working is in America, Europe, Middle East, Africa and Asia Pacific (GE Imagination at Work).

The leadership and longjevity of the company has forced several partnerships with other companies like eBay. Continuing a partnership with eBay GE money has been innovative with products and services to continue to build this partnership to ensure years of continued success. Recently it was announced that GE and eBay will introduce a mastercard with the eBay logo. The partnership will allow cardholders to earn rewards for every dollar spent, online or in stores. "The points are redemable for shipping discounts and vouchers that can be used to shop on eBay or to pay eBay seller fees. The card carries no annual fee" (Ryan, p. 1). The partnership will allow eBay to provide promotional and branding support for the card while GE Money will be responsible for issuing the card and providing customer service, billing and credit management. The ongoing partnership between GE Money and eBay has been in place and beneficial to both companies since the introduction of PayPal.

General Electric has been an industry leader and able to be an innovator when it comes to partnership that will benefit both GE and the other company.