B2B Payments

Amazon Card Payment Launches Amex SMB Card, New Prime Features For Biz

Amazon Business is bolstering its services for small businesses through a new co-branded commercial card with American Express as well as enhanced Prime features for business users.

In an announcement Tuesday (October 23), American Express introduced the Amazon Business American Express Card, offering businesses a streamlined checkout experience when purchasing on the Amazon Business and Amazon.com platforms.

Designed for small to medium-sized businesses (SMBs), the commercial card product allows buyers to choose between earning rewards for their purchase, or selecting a payment term.

Prime members can choose between 5 percent back or a 90-day payment term. Non-Prime members can choose between 3 percent back or a 60-day payment term.

Additional rewards offered by American Express on the new card include cash back on purchases in certain categories, including restaurants and gas stations. Further, small businesses can obtain heightened visibility into transaction data for reconciliation, accounting and spend management purposes. Amex is also offering SMB users access to additional commercial solutions, including Spend Manager and Connect to Quickbooks features, as well as employee payment cards.

In a statement, Amazon Business Payment Products Global Head Samant Nagpal said the tool "empowers small businesses to make flexible choices, streamline everyday buying decisions, and have increased visibility into their business purchase."

Amazon and American Express teamed up earlier this year to launch another co-branded small business credit card in the U.S., and the companies also previously collaborated on heightened spend management solutions for small business customers of Amazon Business.

The new card solution was announced the same day Amazon Business introduced enhanced Amazon Business Prime features for businesses of all sizes.

In a separate press release issued by Amazon, the company revealed the new benefits apply for Amazon Business users in the U.S., Germany and Japan, and include faster shipping options as well as new tools Spend Visibility and Guided Buying.

Spend Visibility, powered by Amazon Web Service QuickSight, provides businesses with visual analysis of spending trends, while Guided Buying highlighted preferred suppliers and products for administrators to support adherence to corporate procurement policy.

Amazon Business is also offering Prime users access to extended Pay By Invoice terms, with the ability to extend payment terms to 45 or 60 days when paying an Amazon Business invoice. The feature follows the launch of Pay By Invoice earlier this year, which garnered criticism from some suppliers concerned about delayed payments.



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