10:50 AM, Jun 26, 2018 — American Express (AXP) is linking up with Amazon.com (AMZN) to offer a credit aimed at small business owners as part of a multi-year partnership between the firms.
The co-branded card will “enhance the way small businesses buy goods and services across Amazon,” the companies said in a statement on Tuesday. It follows a launch this year between American Express and Amazon for an “enhanced data solution that gives businesses in the US greater insight into their purchasing activity, as well as a continued global card acceptance relationship.”
Amazon has been sharpening its focus on corporate clients, offering special deals and services and expanding the availability of its Amazon Business e-commerce marketplace service to six countries as of February, according to its website.
“Amazon’s global product selection and selling services help small businesses think big and run efficiently,” Glenda McNeal, American Express’ president of enterprise strategic partnerships said in the statement. The companies will also use their “collective insights and expertise” to deliver value to customers who use Amazon’s services, McNeal said.
The credit card for small business 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,” said Max Bardon, vice president at Amazon.
The “enhanced data solution” agreed on earlier this year allows businesses to get line-item detail on Amazon transactions, the companies said. It’s meant to bring better monitoring and control of Amazon Business purchases made with American Express corporate cards or corporate purchasing cards in the US. It also allows customers to “run more advanced analytics,” they said.
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