Financial providers revisit credit card offerings for small businesses

August 28, 2012

Consumers aren't the only sector of individuals swiping at credit card terminals.

Consumers aren’t the only sector of individuals swiping at credit card terminals. Small businesses are also using credit cards to complete online and in-store transactions.

In the past, small business credit cards haven’t offered companies too many perks. However, two of the largest financial providers have decided to independently add enhancements to their small business credit card offerings, The Street reports.

Chase, one of the financial institutions, launched a new rewards program on July 31. The program offers businesses five points for every dollar spent at office supply outlets and on cellphone, landline, internet and cable television services, as well as one dollar for every other dollar spent.

MasterCard is offering its customers a new service through its MasterCard Business Network, which includes discounts and expense management opportunities. “Smaller businesses don’t think of themselves as small; they just haven’t finished growing yet,” one MasterCard executive said in a statement, emphasizing the need for new tools for businesses.

However, some experts still suggest small businesses use consumer credit card offerings, as they provide more expansive protections against fee changes.

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