American Express and Square have announced plans to offer a new credit card specifically for Square sellers.
The card will be issued by Celtic Bank and will use the American Express network. It will be the first credit card Square has offered to its small business community, and will integrate directly with Square’s payments platform and financial services tools.
“We wanted to create a product on a payment network that has a strong track record of supporting small merchants, making this card a natural progression of our existing relationship with American Express,” said Luke Voiles, General Manager of Square Banking, in a press release.
Square expects to announce complete details about its new card next year.