Here comes Amazon (AMZN) with another move beyond just carts. This time it’s targeting a crucial group: small businesses.
The tech goliath just announced a new partnership with U.S. Bank and Mastercard to launch a fresh lineup of business credit cards this spring. It’s not just another product launch, but a signal of a bigger strategy shift.
Amazon is steadily building a financial ecosystem designed to grow the number of business customers and increase their spending inside its platform.
Amazon expands fintech push with new small business credit cards
Amazon (AMZN) is transitioning its small business credit card program to U.S. Bank and Mastercard, replacing its previous setup with a new, upgraded offering. The move marks the end of Amazon’s eight-year co-branded relationship with American Express for its business cards.
The 31-year-old company announced on the last day of March that it will launch two new cards. The Prime Business Card that gets you 5% back on Amazon purchases as a Prime member. The second is the Amazon Business Card, offering 3% back for non-Prime users.
Both cards will also offer:
- Rewards on purchases outside Amazon
- Flexible credit terms
- No annual fees
- Spend management tools for businesses
After $150,000 in annual spending, rewards shift to 1% back across categories.
So why the change? According to Amazon executive Tai Koottatep, small businesses wanted better rewards and more control over cash flow. And this partnership aims to deliver exactly that.
This isn’t just about perks, though. It’s about embedding Amazon deeper into how businesses operate day to day.
Eimear Creaven, president, Global Partnerships, Mastercard, noted that, “Small businesses continue to be incredibly resilient, modernizing how they operate and navigating constant change.”
Photo by Matthias Balk/picture alliance via Getty Images
Amazon’s business growth shows why this move matters
Amazon’s small business ecosystem is already massive. And also growing fast.
Amazon Business, launched in 2015, now generates over $35 billion in annualized sales. In a press release by Mastercard on 31 st March, 2026, they stated that Amazon continues to prioritize Amazon Business as a key growth driver.
The platform sees strong adoption and favorable customer feedback. Amazon now serves over eight million organizations worldwide, excluding emerging markets. This includes 97 companies from the Fortune 100, 66 from the FTSE 100, and 38 from the DAX 40.
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But here is a question for you to entertain: What happens when those businesses also rely on Amazon for credit? In short, it creates a powerful loop. Businesses buy from Amazon, earn rewards on those purchases, and then reinvest the spending back into Amazon.
And the timing is key. Amazon generated $716.9 billion in revenue over the past 12 months, growing 12.4% year-over-year. That’s in comparison to the $638.0 billion in 2024. Expanding into financial services could unlock even more growth without relying solely on retail.
Meanwhile, U.S. Bank brings scale, serving over 1.4 million small business clients, while Mastercard provides global acceptance across hundreds of millions of locations.
In short, this partnership combines:
- Amazon’s ecosystem
- U.S. Bank’s lending expertise
- Mastercard’s global payments network
And with no doubt, that’s a powerful and mega combination.
Amazon also launched 1-hour and 3-hour deliveries
The credit card launch is just one piece of a much bigger strategy. Amazon is aggressively expanding its services to make its platform more essential. Not just for consumers, but for businesses too. In mid-March, Amazon also launched 1-hour and 3-hour deliveries.
Consider what else is happening:
- Faster delivery options, including the new 1-hour and 3-hour shipping
- Expansion of cloud services through AWS
- New AI-driven logistics and inventory systems
They recently rolled out ultra-fast delivery across more than 90,000 products, giving customers access to everyday essentials in as little as one hour in select locations.
At the same time, Amazon continues to compete fiercely with rivals like Walmart and Target, which are also investing heavily in faster fulfillment.
So here is where the credit cards fit in. They help tie everything together. By offering financing, rewards, and payment tools, Amazon can deepen customer loyalty while capturing more transaction data. A key advantage in today’s competitive retail landscape.
What this means for you and Amazon stock
Amazon stock remains a key topic for Wall Street almost every day.
As per Macro trends, the company trades at a price-to-earnings ratio of around 27.7 and is viewed by some analysts as undervalued given its growth potential. Recent analyst moves reflect mixed, but generally optimistic sentiment.
- Tigress Financial raised its price target to $315
- JPMorgan lifted its target to $285
- Wolfe Research lowered its target to $245
That range shows a key reality. Amazon’s future depends on execution across multiple fronts. That is retail, cloud, AI, and now financial services. The new credit card program could become an important growth driver, especially if adoption among small businesses accelerates.
But now, investors will be watching closely to see if businesses will embrace Amazon as their financial partner, whether the company can scale this offering globally, and how much revenue this segment will eventually generate.
One more thing you need to know about Amazon
Amazon is building an ecosystem, not just selling products anymore.
With its new small business credit cards, the company is taking another step toward becoming a one-stop platform for commerce, payments, and operations. In fact, it’s a strategic move that could highly deepen customer loyalty and unlock new revenue streams.
Related: Morgan Stanley says it’s “time to buy” California-based tech giant
