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AmEx Loses Ground as the Primary Business Card

A new study suggests that American Express is no longer the primary business card used by small businesses and middle market companies, but is gaining ground as the primary corporate card among micro-market businesses. The research of 2,800 companies found that VISA is the primary corporate expense card for 44% of businesses with annual revenues between $1 million and $20 million, and 45% of businesses with annual revenues between $20 million and $250 million. The Informa Research Services report says the base of micro market companies, with annual revenues below $1 million and that use expense cards, has grown from 21% in 2002, to 31% in 2003. During this period, American Express expanded its share from 14% to 27%, as MasterCard declined from 31% to 18%. VISA’s micro market share increased from 51% to 54% in 2003. In the small business segment, American Express’ primary relationships declined from 36% in 2002, to 23% in 2003. During this period, VISA’s share grew from 40% to 44%, and MasterCard’s increased from 24% to 32%. In the middle market segment, American Express’ primary relationships declined from 50% in 2002, to 45% in 2003. During this period, VISA’s share grew from 35% to 45%, and MasterCard’s increased from 15% to 20%.