American Express launches business credit cards for Amazon Business small businesses
Online shopping giant Amazon is a huge beneficiary of the pandemic with 40% growth in sales reported in its latest results, prompting a flurry of interest from card companies keen on a slice of its growing B2B volume.
A month after Emburse partnered with Mastercard offering a commercial card product for Amazon Business customers in the US, American Express has launched a co-branded credit card with Amazon Business for small to medium businesses (SMBs) in the UK. Under these new offerings businesses using Amazon Business American Express card and Amazon Business Prime American Express Card during the checkout process would have an option to earn reward points on their payments or they can select an option to deferred payment terms for each transaction.
“Reward points can be earned anywhere American Express Cards are accepted and redeemed toward future Amazon purchases or applied to the balance of their monthly Card statement”, the press release noted. A similar kind of partnership does exist between American Express and Amazon Business in the United States and Amazon accepts American Express cards globally.
Amazon Business currently operates in the United States, United Kingdom, Germany, France, Italy, Spain, Japan, India and Canada.
This has come at a time when 63% of small businesses in the UK have said that cash flow issues have led them to delay purchases of goods and services they are needed for running of the business. In addition to this, 38% of survey respondents said they were only purchasing essentials that were needed to keep their business running. The survey was conducted by American Express and YouGov with 2015 respondents in the period of 17th August to 28th August among the UK SMEs.
Last month, American Express had introduced forbearance for business card customers in the US which would help small and medium businesses to manage their cash flows management needs.
In separate news, last month, Emburse partnered with Mastercard to develop an integrated solution for Mastercard corporate cardholders and Amazon Business customers.
To hear more from American Express, join them at CPI Global Summit, October 6-7