Amazon switches SMB cards from Amex to Mastercard [developing]
Key Questions
What change is Amazon making to its SMB credit cards?
Amazon is switching small and medium business (SMB) cards from Amex to Mastercard with U.S. Bank starting spring '26. This includes Prime 5%/3% cashback no-fee options.
What features do the new Amazon Business Cards offer?
Prime Business and Amazon Business Cards embed workflows for repeat volumes and data. Nourish targets 85% digital payments, modernizing SMB payments.
How does this impact Mastercard?
It's a win for Mastercard in e-comm/B2B, with Zacks noting embedded finance at P/E 24x and 14.6% EPS growth. Ginger Siegel leads SMB payments modernization.
What pressures might arise from this switch?
Rewards could pressure margins vs. Visa/Amex. However, it boosts core business vs. stock lows.
Why is this significant for SMBs?
Payments modernization emerges as a growth engine for SMBs via Amazon's ecosystem. Mastercard aims to capture SMB spend through co-branded cards.
Amazon SMB cards to MA/U.S. Bank spring '26 confirmed (Prime 5%/3% cashback no fee, Prime Business/Amazon Business Card embedded workflows for repeat vols/data, Nourish 85% digital); Ginger Siegel SMB pmts modernization. e-comm/B2B win Zacks embedded/P/E 24x/14.6% EPS g; rewards margin pressure vs V/AXP. Bull core boost vs stock lows/exec quotes on rewards/security.