The news: Amazon rolled out its new Prime Business Card and Amazon Business card after U.S. Bank and Mastercard took over the portfolio, per a press release.

Both cards are accepting new applications, and current cardholders will receive replacement cards in August.

Here’s what changed: The cards have improved rewards outside of the Amazon ecosystem. Cardholders will now earn 1% back on purchases beyond Amazon. Prime Business cardholders can get 5% back on travel booked within the U.S. Bank Travel Center with the Prime Business Card; Amazon Business cardholders get 3% back.

A new installment feature lets businesses trade rewards for breaking up qualifying Amazon purchases into 12 months of fixed, 0% APR payments.

Why this matters: US SMBs are navigating a precarious financial landscape. While the NFIB Small Business Uncertainty Index slightly improved in April, it remains well below its historical average. Squeezed by rising costs, business owners can lean on credit cards to manage cash flow and cover financing needs—creating an ideal opening for payment providers.

The Amazon cards’ new features directly address these pain points. Adding installments is particularly timely:

• 40.2% of SMBs said installment plans are a credit card feature they would actually pay for, according to a December survey by Mastercard and PYMNTS Intelligence.
• And 28% of SMBs cited robust rewards programs as a premium feature worth paying for.

Implications for card providers: Expanding the Amazon business cards’ higher rewards multiples beyond Amazon purchases into travel is a strong competitive play in the co-brand landscape.

Offering in-demand travel rewards is a strategic move other issuers can replicate, especially as businesses hunt for maximum perks during a period of economic uncertainty.

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