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Small Business Credit Cards: The Key to Richer Customer Relationships

  • ID: 3455072
  • Report
  • November 2015
  • Region: United States
  • 31 Pages
  • Mercator Advisory Group
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FEATURED COMPANIES

  • Ace Hardware
  • Capital One
  • Discover
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In the wake of the recession, U.S. small business owners consistently report that they have little need for or interest in credit, and yet surveys consistently reveal that small business owners are frustrated with their inability to get credit quickly. Credit card issuers continue to see only modest growth in their small business credit card programs, and yet billions of dollars are being funneled into alternative lending platforms specifically focused on serving small businesses. The U.S. small business credit card space appears to be both a sluggish product vertical and a critically underserved market representing opportunity at the same time.

This most recent research report, Small Business Credit Cards: The Key to Richer Customer Relationships untangles the seemingly contradictory state of the U.S. small business credit card market and provides a set of strategic recommendations for market participants moving forward.

“The paradoxical nature of the current small business lending environment demonstrates the need for issuers to significantly realign their card products with the needs and preferences of small business owners,” comments Alex Johnson, author of the report.

Highlights of this research report include:

- An overview of the current state of U.S. small businesses and their payment preferences
- A review of the current small business product offerings from the largest U.S. credit card issuers and payment networks
- Estimates and projections on the size and growth trajectories of small business credit card accounts, outstandings, and payment volumes
- Analysis of small business owners’ financial services needs and the alignment of those needs with traditional and alternative products
- An exploration of the emerging alternatives in small business lending
- Strategic recommendations for small business credit card issuers

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FEATURED COMPANIES

  • Ace Hardware
  • Capital One
  • Discover
  • LexisNexis Risk Solutions
  • OnDeck Capital
  • Square
  • MORE
1. Executive Summary

2. The State U.S Small Businesses
- Growth in the Number of Small Businesses Remains Modest
- Small Business Lending Is Slowly Ramping Up Again
- Small Business Payments Preferences
- Small Business Spending

3. The Small Business Credit Card Market

4. 2015 Small Business Card Product Landscape
- American Express
- Bank of America
- Capital One
- Citi
- Chase
- MasterCard
- U.S Bank
- Visa
- Wells Fargo
- Observations Across All Issuers and Networks

5. What Small Businesses Need
- Challenges Facing Small Businesses
- Funding Day-to-Day Operations
- How and Why Small Businesses Seek Financing
- Small Businesses’ Access to Credit
- Small Business Owners Want Expediency

6. Alternatives for Small Business Financing
- Alternative Lending
- Merchant and E-Commerce Financing
- Invoice Funding

7. Strategic Recommendations for Small Business Credit Card Issuers
- Continue Ramping Up Payments Volume
- Help Your Customers Grow Their Businesses
- Adjust Your Customer Acquisition Strategies
- Solve the Expediency Problem
- Get to Know the Unknowable Microbusiness
- Champion Transparency and Objectivity
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- Alaska Airlines
- Amazon.com
- American Airlines
- American Express
- Asiana Airlines
- BCSG
- Bank of America
- Capital One
- Carlson Hospitality
- Chase
- Citi
- Constant Contact
- Costco
- Credit Karma
- Delta
- Discover
- Facebook
- Fundbox
- Google
- Kabbage
- Korean Air
- LSQ Funding
- Legal Document Builder
- Lending Club
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- Lowes
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- OnDeck Capital
- PayPal
- Prosper
- Sage One
- Simplify Commerce
- SiteWit
- Southwest Airlines
- Spirit Airlines
- Square
- Starwood Hotels
- Stripe
- U.S. Bank
- United Airlines
- Visa
- Wells Fargo
- Xero
- Xpenditure
- Zendesk
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