5 key trends for small business credit and debit cards in 2020
A strong economy in 2020 could lift the small-business card market, which is an important source of lending and payments for entrepreneurs and local merchants.
Such a trend also raises the level of payment complexity for those merchants, as young businesses struggle with multiple employees having access to the business checking account through newly acquired small business debit cards.
Commercial cards, which include small businesses as an audience, is a segment where American Express is a strong force and Visa’s traditional card dominance is moderated. While rewards may be the most important card feature in the consumer segment, small business owners are much more demanding.
“The difference is that small business owners want more features to control and monitor the additional employee cards on the account,” said John Cabell, director of wealth and lending intelligence at J.D. Power.