Or, why it is not possible for business cards to have a watermark - One Description

A watermark is a translucent image that is added to the fibers of paper during the
papermaking process. Fine writing papers such as those used for business stationery
are characterized by watermarks. Hold a sheet of Crane's or Strathmore paper up to
the light and you will see the watermark clearly. When watermarked paper is used
to print letterheads and envelopes, it conveys a subtle sense of prestige.

A watermark can also provide a security feature. Since genuine watermarked paper
cannot be duplicated, documents printed on it are protected by the watermark.
For example, when United States currency was redesigned in 1995, a watermark
of Benjamin Franklin was added to the $100 bill.

A genuine watermark is made while paper is still wet and moving through the
wire portion of the Fourdrinier papermaking machine. The pulp or stock passes
under a cylinder called a dandy roll on which the watermark design is located.
The watermark design displaces the fibers, which alters the thickness and
opacity of the paper in those areas. It is the variation in opacity that is seen
as the watermark.

There are three positions for a watermark: localized meaning that the mark falls
in the same position on every sheet (within a tolerance of one-half inch);
centralized meaning the mark appears in the same vertical line on the sheet,
though its top-to-bottom location may vary; and random meaning the watermark
falls anywhere on the sheet. In this instance, the watermark may appear more
than once on a single sheet.

More on Watermarked Paper

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