← State of Embedded Finance 2026

Mastercard Amazon Business

“Can the Amazon Business + Mastercard partnership become the end-to-end financial operating layer for SMB procurement — spanning card issuance, open banking data, reconciliation, and retirement — on top of Amazon's existing B2B marketplace?”

HQSeattle, WA, United States
IndustryMarketplace / Two-sided

The story

Amazon Business, launched in 2015, is Amazon's B2B marketplace offering business customers purchasing tools, analytics, and payment flexibility. The 'Mastercard Amazon Business' entity specifically refers to the partnership between Amazon Business and Mastercard — most prominently the co-branded Prime Business Card and Amazon Business Card issued by U.S. Bank on the Mastercard network, launched in May 2026. Separately, Mastercard's subsidiary Finicity provides open banking (consumer-permissioned data) services connecting users' financial accounts with Amazon. The embedded finance stack spans card issuing, open banking data, spend management, and reconciliation APIs aimed at streamlining B2B procurement.

Last 12 months

2025-06

Vestwell partnered with Amazon's DSP program to offer pooled employer plan (PEP) retirement solutions to delivery associates.

2025-11

Mastercard/Finicity updated Open Finance Privacy Notice for the Amazon Service, governing consumer-permissioned financial account data connections.

2026-05

Amazon launched the new Prime Business Card and Amazon Business Card, issued by U.S. Bank on the Mastercard network, with enhanced rewards, flexible financing, no annual fee, and no foreign transaction fees.

Product timeline

2015

Amazon Business launched as a B2B marketplace for business customers purchasing on Amazon.· pivot

2018

Amazon launched the Delivery Service Partner (DSP) program, partnering with SMBs to employ delivery drivers.· pivot

2021

Amazon Business Reconciliation API launched, enabling automated transaction-level reconciliation for business purchases.· banking

2025

Vestwell announced partnership with Amazon DSP program to offer pooled employer plan (PEP) retirement solutions to delivery associates.· banking

2026

Amazon launched the new Prime Business Card and Amazon Business Card, issued by U.S. Bank on the Mastercard network, with no annual fee, no foreign transaction fees, flexible financing, and up to 5% back on Amazon purchases.· card

The stack

Payments / PSP

Mastercard (network, self-operated partnership)U.S. Bank (card issuer)

Card issuing

U.S. Bank

Lending

U.S. BankPrime Business Card — flexible financing / pay over time at 0% APRAmazon Business Card — flexible financing Amazon Lending (third-party financing providers for sellers)

Open banking

Finicity

Sponsor bank

U.S. Bank, N.A.

FX & payouts

Mastercard Move (self-operated)

Accounting

Amazon Business Reconciliation API (native, feeds into third-party expense/accounting software)

Accounting gap: minor