Amazon Said to Be Eyeing Small Business Credit Card Offering

Home » Small Business » Small Business News » Amazon Said to Be Eyeing Small Business Credit Card Offering

Amazon Said to Be Eyeing Small Business Credit Card Offering

Depending on what your small business does, you may view Amazon as a friend or a foe. For those in retail who don’t sell their own products, Amazon’s low prices and fast shipping could easily pose a threat. Meanwhile, companies that manufacturer their own goods or even hawk used items may find the giant to be a great sales outlet. Whatever the case may be, Amazon is now reportedly looking to be a destination for small business supply buyers and offer a new credit card.

According to Bloomberg, Amazon has been in discussions with JPMorgan Chase about creating a co-branded credit card for small business owners. The new card would supposedly take on a points structure that would reward business owners for their purchases. Moreover future offerings and perks might also be influenced by consumer purchase data. Additionally the site reports that Amazon is considering introducing other business products such as business insurance to customers down the line.

Rumors of a new small business-minded credit card come only a few months after Amazon introduce Business Prime accounts. These memberships are akin to their popular product for individuals but allow multiple people to place orders with fast, free shipping. Such plans start at $499 a year for up to 10 people. As a result, it’s clear that Amazon is hoping to take market share from companies like Staples, Grainger, and others.

Overall, Amazon making moves toward embracing and boosting small businesses seems like a smart strategy. Despite any animosity on the part of some business owners, there’s no doubt there are plenty of B2B benefits to be had on both sides. It’s also easy to imagine small business owner switching from suppliers like Staples that they may have accounts with to simply buying all of their items on Amazon — especially if they’re getting free shipping and reward point perks. Of course we’ll have to wait and see if the Amazon small business card becomes a reality and how it compares to other offerings like Chase Ink and Capital One Spark.

Author

Jonathan Dyer

I'm a small town guy living in Los Angeles looking to make solid financial decisions. I write for a number of finance websites, including HuffingtonPost and Business2Community. I founded DyerNews.com in 2015 to focus on personal finance and the emerging FinTech markets.

Other Articles by Jonathan Dyer

SBA's 504 Loan Program Sees Record Lending Month

At a time when thousands of small businesses across the country are struggling to stay afloat, it seems that some entrepreneurs are investing in future projects. As the National Association of Development Companies notes, the Small Business Administration completed a record number of loans under its 504 loan programs in...

U.S. Initial Unemployment Claims Amounted to 860,000 Last Week

This morning, the United States Department of Labor released the latest unemployment insurance filing numbers showing that 860,000 workers applied for new benefits last week. The figure is down from an adjusted 893,000 the week prior and is a fraction of the near-record 6.6 million claims filed at the height...

Savings App Guac Launches Equity Crowdfunding Campaign

Over the past few months, the FinTech industry has seen a slew of funding rounds — including some that have climbed even after their original announcement. While these traditional venture capital-led rounds are certainly the norm, they aren't the only way for startups to raise funds. Case in point: this...