American Express (NYSE:AXP) and Amazon (NASDAQ:AMZN) have partnered on a new card that is designed for small businesses. The card is said to “offer rich rewards and access to flexible payment terms to help them better manage their finances.”
The two cards available are the Amazon Business American Express Card and the Amazon Business Prime American Express Card with each offering an “enhanced check-out experience on Amazon Business UK and Amazon.co.uk,” according to a release.
Colin O’Flaherty, General Manager of UK Global Commercial Services at American Express, commented:
“We have been serving small businesses for over 60 years, and are passionate about helping our small business customers effectively run and grow their businesses, especially during this challenging period. With many UK SMEs facing financial hardships, we want to make it easier for businesses to manage their finances and continue accessing the goods and products they need with more options to pay. We know that a vast number of the UK’s businesses rely on Amazon’s wide-ranging products and services and are excited to launch this powerful and flexible new payment tool that will allow small businesses to select how to pay, purchase by purchase.”
Dave Brittain, Director of Amazon Business UK, said that working with American Express to launch the small business credit Card was a natural decision for Amazon:
“We’re incredibly proud to launch this Card programme as it offers small business owners and entrepreneurs the best of both companies: the convenience and value they have come to know and love from Amazon, underpinned by the world-class service, benefits, access and security of American Express. These benefits have never been more important at a time when businesses are navigating the challenges and uncertainty which Covid-19 has presented.”
Both cards include a £50 annual fee. A representative APR is 32.6% APR.