American Express Co. is joining with Amazon.com Inc. to launch a credit card for small businesses, an arrangement that could advance the card company’s efforts to deepen its ties with small and midsize companies. New multi-year agreement with Amazon includes a U.S. cobranded small business credit card, an enhanced data solution, and continued global card acceptance. It is the card company’s first co-branded partnership with Amazon, and the online retailer’s first small-business card.
American Express announced plans to launch a new cobranded Amazon credit card for small businesses in the U.S. „The new cobranded card will enhance the way small businesses buy goods and services across Amazon, and is part of a larger multi-year partnership. This partnership also includes an enhanced data solution that gives businesses in the U.S. greater insight into their purchasing activity, as well as a continued global card acceptance relationship.”, according to the press release.
“We selected American Express as our partner for the upcoming small business credit card because of our shared commitment to helping small businesses grow,” said Max Bardon, Vice President at Amazon. “Offering the best of both brands, the cobranded small business credit card program will combine the buying power, convenience and value small businesses have come to know and love from Amazon backed by the world-class service, benefits, access and security of American Express.”
Earlier this year, American Express also launched an enhanced data solution with Amazon Business, Amazon’s B2B e-commerce marketplace and purchasing solution. This integration seamlessly provides businesses with line-item detail on their Amazon transactions, enabling more efficient monitoring, control, and reconciliation of Amazon Business purchase transactions made with American Express® Corporate Cards or Corporate Purchasing Cards in the U.S., and allows customers to run more advanced analytics.
„Tendinţele pe care le-am remarcat înainte de începerea pandemiei s-au accelerat pe perioada stării de urgenţă. Am văzut acest lucru ca o oportunitate, un tipping point pentru bancă. Post-pandemie nu avem cum sa ne întoarcem la comportamentul financiar pe care îl aveam până în februarie a.c. Relaţia românilor cu online-ul s-a schimbat. In plus, cardul fizic se va dematerializa. Vom asista la o scădere a cererii pentru cardurile fizice, respectiv la o creştere a preferinţei pentru componenta digitală a acestora.”