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Discover to launch credit card for small businesses
Discover Financial Services has launched their first credit card for small businesses. They are targeting the small business market to make it easier for them to make payments.
The company’s new card Discover Business Card would carry cash-back bonus rewards similar to their existing consumer cards.
Roger C. Hochschild, president and chief operating officer of Discover Financial added that small businesses would be able to obtain fee-free checks to pay merchants and suppliers who do not accept credit cards for transactions.
The payments made using these checks would also be eligible for rewards. Businesses with credit limit of up to $50,000 would be able to get cards for their employees. They would also get the flexibility to set limits on these cards.