Discover Rolls Out Business Card

RIVERWOODS, Ill. – Discover Card has rolled out a credit card for small businesses, the card brand, which is a division of Morgan Stanley, announced June 12. The Discover Business Card will offer no annual fee and leverage Discover’s Cashback Bonus rewards program. “The Discover Business Card provides the opportunity for the Company to take a leadership position in the small business payments space by addressing the underserved needs of the small business owner,” said David Nelms, CEO of Discover Financial Services. “With credit card penetration among small businesses at an estimated 35 percent- and only 10 percent of small business spending on plastic-our card offers customized features and services that address many of the challenges that have discouraged small business owners from using credit cards,” he added. The card will include the ability to use so-called purchase checks, something Discover described as “unique, fee-free checks to let small business owners pay merchants and suppliers who do not accept credit cards.” The program will also offer employee cards, reporting which can be downloaded by card users into popular business accounting software, and credit limits of up to $50,000.