Smaller companies were the focus of innovation in the commercial card space this week thanks to new cards designed for small and medium-sized businesses (SMBs).
This week’s commercial card innovation tracker includes the launch of business cards by American Express and Amazon in addition to one by Wyndham Hotel & Resorts and Barclays.
American Express, Amazon Rollout Card For UK SMBs
American Express rolled out co-branded cards with Amazon for British SMBs.
Their new British card program was created as part of a current relationship between the two firms that encompasses a co-branded program in the United States and an international card acceptance relationship.
The cards offer an “enhanced” checkout experience on Amazon.co.uk and Amazon Business UK that lets those who have cards accrue rewards points or opt for a deferred payment term for every transaction, according to the announcement.
Businesses can use the points to buy items on Amazon going forward or defray the balance of their monthly statements.
Wyndham Unveils Credit Card For Small Business Travelers
Wyndham Hotels & Resorts and Barclays debuted the first Wyndham credit card designed for small business travelers, according to an announcement.
The Wyndham Rewards Earner Business Card allows businesses to accrue points for each dollar spent on Hotels by Wyndham, fuel, marketing, advertising, utilities and other purchases.
It also offers a membership that offers a welcome amenity at check-in at some hotels and suite upgrades.
“As the travel landscape continues to evolve, Wyndham Rewards remains consistent in providing convenience, flexibility and affordability that road trippers and road warriors need,” Nichelle Evans, managing director, travel and affinity partnerships, Barclays said in the announcement.
US Bank Instant Card Connects With Concur Expense
To help monitor, report and reconcile expenses, U.S. Bank Instant Card transactions now “seamlessly integrate” into Concur Expense, according to an announcement.
Those who use instant cards can simply capture their spending with digital receipts, fill out expense reports and send in expenditures for approval with the help of mobile technology.
“Customers will now be able to optimize their card program with U.S. Bank, while still having complete visibility into their total employee spend through Concur Expense,” Valerie Blatt, business head and general manager, Global SMB, at SAP Concur, said in the announcement.
Businesses can use Instant Card to quickly move a virtual business card to the Google Pay or Apple Pay wallets of staffers or others. Furthermore, businesses can institute a credit limit and date of expiration for the card.
Use cases for the card could include helping with expenditures for a person who has to travel for a job interview. It can also be used for a staff member who doesn’t travel enough to have a corporate card.
Goldman Sachs To Purchase GM’s Credit Card Business
Goldman Sachs has reportedly beat out rival Barclays to purchase the credit card business of General Motors (GM).
The bank has access to the more than 1 million cardholders who have approximately $8.5 billion in spending annually with the deal.
The purchase will reportedly occur for roughly $2.5 billion, and it extends Goldman Sachs’ push into Main Street Lending.
Goldman Sachs, as well as Barclays, promoted the concept of cars as online shopping portals in their pitches to General Motors.
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