From Payment Tools to Financial Platforms: The Evolution of SMB Credit Cards

Small and midsize businesses (SMBs) represent a significant market segment for financial institutions, with business credit cards serving as a crucial financial tool for these organizations. As businesses increasingly expect more from their credit cards, seeking digital capabilities that mirror consumer offerings while addressing their unique operational needs, credit card issuers face challenges and opportunities in capturing and retaining this valuable market segment.

This report examines current SMB preferences, behaviors, and needs regarding business credit cards, identifying key market trends and recommendations for issuers looking to enhance their offerings in this competitive space. It is based on a proprietary Datos Insights survey of 1,004 U.S. SMBs conducted in February 2025, as well as conversations with industry stakeholders, including fintechs, issuing banks, and payment networks, and Datos Insights’ in-house industry knowledge.

Clients of Datos Insights’ Commercial Banking & Payments service can download this report.

This report mentions American Express, BILL, BMO, Brex, Chase, Mastercard, PayPall, Ramp,RBC,  RHO, Venmo, Visa, and Zelle.