American Express and Square Team on New Seller Credit Card

American Express and commerce solutions provider Square have partnered to create a forthcoming credit card that will be designed for Square sellers.

The Square Credit Card is to be available to eligible Square Sellers in the United States, with additional details to be announced next year, the companies said in a Wednesday (Nov. 16) press release.

The new card will integrate with Square’s ecosystem of solutions, enabling sellers to manage their finances and cash flow on the same platform they use to run their business, according to the release.

“Small businesses have historically struggled to find fair and simple solutions for their credit needs,” Square Banking General Manager Luke Voiles said in the release. “Square has spent years building a successful lending program to eliminate this barrier for sellers, and we’re uniquely positioned to innovate even further in this space to expand access to new types of credit products.”

The Square Credit Card will be powered by i2c , issued by Celtic Bank and backed by the American Express network, according to the release.

American Express increasingly hears from small- to medium-sized business (SMB) owners that they need a single-point solution , a platform from which they can manage all their payments, Dean Henry , executive vice president of global commercial payments at American Express, told PYMNTS in an interview posted in June 2021.

The question SMBs are now demanding an answer to, Henry said, is how they can get a “consolidated view” of who they must pay and when they must pay, along with an offering of a full range of automatable choices in how they pay.

For the first time in history, businesses can be “born global,” he said. They are no longer limited by geography and can instead connect to partners anywhere in the world.