Amazon adds new Business Prime benefits, including a credit card
Amazon on Tuesday rolled out new benefits for its Amazon Business Prime members, including access to a new credit card offered jointly with American Express. The AmazonBusiness American Express Card, for US customers, has no annual fee, and it offers businesses 5 percent back or 90-day interest-free payment terms on eligible purchases.
The card could help Amazon reach more SMBs via Amazon Business, its B2B platform. Earlier in the year, Amazon launched a low-cost account option, enabling businesses to sign up for Amazon Business for $179 per year for up to three users.
The platform lets users buy business supplies on Amazon on behalf of their employer. The administrator can add authorized users, or remove them, as well as manage payment methods. Amazon Business also provides access to business products like IT equipment, as well as access to Amazon Prime-style perks like free two-day shipping.
In addition to the credit card, Amazon is offering qualifying members Extended Terms for Pay by Invoice, to extend payment terms to 45 or 60 days. US members can also now get free same-day delivery or free one-day shipping on certain orders.
There's a new feature for creating spend visualizations called Spend Visibility, which is powered by AWS QuickSight. Another feature called Guided Buying enables account administrators to set purchasing policies. By identifying some products as restricted or others as preferred, administrators can adhere to compliance policies or try to maximize their budget.
The goal of these new benefits, Amazon Business VP Prentis Wilson said in a statement, is "to help businesses drive even more transparency into their procurement process, while ultimately lowering their total cost of purchasing."
Last month, Amazon Business said it has an annualized revenue run rate of more than $10 billion, attracting both large organizations and SMBs.