Small businesses can not only bring jobs and innovation to local communities, they also contribute an estimated $5.8 trillion1 in annual U.S. spending. The results of a recently conducted joint study showed that business credit cards are an important product for small businesses.
Community banks offering small business credit cards represents an attractive revenue opportunity
Small business card economics
Average Revolving Balance (non-transactors)
Community banks can tap into the small business credit segment
Small businesses surveyed actively search for attractive card oﬀers
69% are at least somewhat likely to shop for a credit card in next couple years.
Small businesses are willing to consider community banks
67% of surveyed businesses that consider a community bank for their credit card, select them.
Community bank credit cards can be the preferred product
80% of surveyed businesses with a card from a community bank consider it primary.
Visa Card Performance Accelerator Tool: An interactive, user-friendly tool that helps make it easy for community banks to create a business case to size and test their opportunity for a business credit card program.
Visa Savings Edge: No cost program that provides enrolled Visa Business cardholder two paths to savings—Everyday Offers and Activate Offers—on qualifying purchases at participating merchants frequented by small businesses. Discounts provided as credits on future statements.