Small-Business Cards in North America: Nurturing Growth

Although they are heavily used for travel and fuel purposes, the use of business cards has room to grow among small businesses.

Boston, December 16, 2020 – The small-business card market is a critical component of the broader cards market, and it has seen growth in card numbers and transaction volume in recent years. Nonetheless, small-business cards tend to garner significantly less attention than consumer and corporate cards, and they often rank lower on issuers’ lists of strategic priorities. This is a missed opportunity for growth—an opportunity issuers and vendors ready to meet this market’s shifting demands should pursue to make up for some of the losses they sustained in 2020.

This report looks at the current and forecast state of the small-business card market in North America and provides insight into how small and midsize businesses use their cards and what they want from their issuers. It is based primarily on the results of a Q4 2019 online survey of 255 small and midsize businesses in the U.S. and Canada.

This 32-page Impact Report contains 19 figures and one table. Clients of Aite Group’s Wholesale Banking & Payments service can download this report, the corresponding charts, and the Executive Impact Deck.

This report mentions ACI Worldwide, Bank of America, BMO, Brex, Capital One, CIBC, Citibank, Desjardins, Finastra, First National Bank of Nebraska, FIS, Fiserv, Global Payments, JP Morgan Chase, Laurentian, National Bank of Canada, Netsuite, Oracle, PayPal, PNC Bank, Quickbooks, RBC, Scotiabank, Silicon Valley Bank, Square, TD Bank, Truist, U.S. Bank, Wells Fargo, and Xero.

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