A new credit card aimed directly at film and TV productions, with incentives and tools tailored for bizzers, has launched.
The Cashét Card gives a 1% cash rebate to productions with each transaction and access to vendor discounts on production expenses including transportation, lodging and equipment rentals.
The card also offers independent production entities (special purpose vehicles, or SPVs) instant credit. Additionally, producers or project managers will have the ability to distribute multiple dedicated cards, each with adjustable spending limits, to various production departments and to track expenses online in real time.
The card, which had a soft launch in May, was first used by the production team of “Better Living Through Chemistry,” starring Olivia Wilde and Michelle Monaghan. “Chemistry” producer Joe Neurauter noted the card’s “easy set-up” and “instant budget oversight.”
The card is backed by completion bond company Film Finances Inc. and Fintage House, a financial services and royalty collections group.