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

Uber Relaunches UberPool as UberX Share

With demand for travel continuing to rise, the ridesharing app Uber has announced a feature to help both travelers and commuters to get to their destinations while saving money. After previously pausing its UberPool service option during the pandemic, Uber is now rolling out a replacement called UberX Share. At this time, the new option is available to riders in New York City, Los Angeles, Chicago, San Francisco, Phoenix, San...

Split Payment Platform Kasheesh Launches as Alternative to BNPL

In recent months, "buy now, pay later" (BNPL) platforms have exploded in popularity. What's more, with Apple jumping into the space, the practice is likely to continue growing despite some concerns in regards to how BNPL services impact consumers' personal finances. With that in mind, one FinTech has just revealed its alternative: a payment-splitting platform for online retail. Today, Kasheesh exited stealth mode to announce the launch of its unique...

Credit Karma Money Spend Adds Cashback Offers for Cardholders

Those looking to add some extra cash back into their pocket will soon have a new option. This week, the popular credit monitoring site Credit Karma announced a new feature for its Credit Karma Money customers. Now, debit cardholders will be able to earn cashback when making purchases from select retailers. According to the site, the list of eligible retailers includes national chains, such as Adidas and Shake Shack, as...