OPERATIONS

Amazon’s new credit card makes a play for small businesses

BY Deena M. Amato-McCoy

Amazon wants to help small businesses manage their spending — and not just on its own site.

Amazon and American Express on Tuesday introduced the Amazon Business American Express Card — the online giant’s first credit card for the small business segment. The co-branded credit card has no annual fee, offers greater visibility into each transaction, and provides an enhanced checkout experience on Amazon Business and Amazon.

There are also benefits for Prime and Business Prime members, including 5% back or 90-day payment terms on U.S. purchases made at Amazon Business, Amazon Web Services, Amazon.com, and Whole Foods Market. All other customers are entitled to 3% back or 60-day payment terms for purchases made across Amazon retail brands.

All cardholders are eligible for 2% back on purchases at U.S. restaurants and gas stations, and on wireless telephone services purchased directly from U.S. service providers, and 1% back on other eligible purchases. They can also access line-item details on purchases made on Amazon Business in the U.S., including cost per item and quantity, a service that offers more visibility into and traceability of business purchases.

“At Amazon, small businesses are integral to our DNA and we continue to innovate on their behalf,” said Samant Nagpal, global head of Amazon Business Payment Products.

“We’re thrilled to launch the Amazon Business American Express Card, which puts the collective strength of Amazon Business and American Express into the hands of U.S. small businesses,” said Nagpal. “The card empowers small businesses to make flexible choices, streamline everyday buying decisions, and have increased visibility into their business purchases.”

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