Amazon to Launch Loyalty Credit Card for Prime Members
Amazon.com is making news … again. The e-commerce giant is trying to ring up even more sales, announcing a new credit card aimed at its most loyal customers. The credit card is for Prime members only, and offers 5 percent back on all Amazon purchases. MarketWatch reports the card, branded with Visa Inc. logo, does not have an annual service fee or international transaction fees. "We're adding even more value to Prime by offering rewards on Amazon and everywhere else you shop," Max Bardon, Amazon vice president, said in a company press release.
Total Retail's Take: Payments is yet another way Amazon is taking over the retail realm. Cash-back cards have been proven to help increase loyalty and sales, Target being just one example. I'm interested to see how the credit card program will help grow Amazon's already successful Prime membership numbers.