Amazon Unveils New Credit Card Options for Small Businesses

In a significant move to enhance support for small businesses, Amazon.com Inc. (AMZN) announced the launch of two new credit card offerings—the Prime Business Card and the Amazon Business Card—set to debut this spring. These cards, issued in partnership with U.S. Bank (USB) and operating on the Mastercard (MA) network, aim to provide U.S. customers with more ways to save and better tools for managing their business expenses.

The Prime Business Card will cater to Amazon Prime members, offering an attractive 5% cash back on Amazon purchases. Meanwhile, the Amazon Business Card will provide 3% cash back for non-Prime customers. Both cards are designed to deliver additional rewards for purchases made outside of Amazon, ensuring that small business owners can benefit from their spending no matter where they shop.

In a bid to further attract small businesses, both credit card options will come with no annual fees. This aligns with Amazon's commitment to making business expenses more manageable for small enterprises.

Alongside the rewards structure, these cards will integrate seamlessly with Amazon's purchasing and spend management tools. This feature is designed to streamline purchasing processes, allowing businesses to make smarter buying decisions while unlocking potential cost savings.

Tai Koottatep, director and general manager of Worldwide B2B Payments & Lending at Amazon, emphasized the importance of listening to customer needs in the development of the new cards. “Convenient, rewarding payment options start with listening to the customer,” Koottatep stated. He highlighted the desire among small businesses for more ways to earn rewards and better cash flow management tools, which the new card program aims to deliver.

Courtney Kelso, senior executive vice president at U.S. Bank, expressed pride in the bank's support for small businesses and highlighted the significance of the partnership with Amazon and Mastercard. "We are excited to empower small businesses with meaningful rewards and easy-to-use tools to manage spending," Kelso remarked.

Eimear Creaven, president of Global Partnerships at Mastercard, noted the resilience of small businesses in modernizing their operations. He emphasized the unique value this collaboration brings, stating, “Together, we are bringing more value, security, and simplicity to the tools small businesses rely on every day.”

Since its launch in the U.S. in 2015, Amazon Business has made substantial strides in empowering businesses of all sizes. With over $35 billion in annualized gross sales and a clientele that includes 97 of the Fortune 100 companies, Amazon Business continues to offer unmatched selection and competitive pricing.

Amazon Business provides tailored features for procurement and purchasing, including curated site experiences, business-only pricing, and various account management options. The platform serves over eight million organizations globally and is expanding its reach into 11 countries, including major markets like Canada, Germany, and Japan.

Current U.S. Amazon Business and Amazon Business Prime American Express Card Members will not be left in the lurch; they can continue to use their existing cards while receiving further communication regarding the transition to the new offerings.

As small businesses navigate an ever-evolving economic landscape, Amazon's introduction of the Prime Business Card and Amazon Business Card represents a timely and strategic initiative to enhance financial flexibility and reward structures. With the promise of more details on the new cards' benefits to come, Amazon is poised to solidify its role as a pivotal partner for small businesses in the U.S.