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Bank of America Merchant Services Teams Up With American Express to Drive Commerce to Small Businesses

November 15, 2018

CHARLOTTE, N.C.--(BUSINESS WIRE)--Nov 15, 2018--Bank of America Merchant Services, a global leader in payments, eCommerce and security solutions, today announced it has joined the Small Business Saturday Corporate Supporter Program. It will, together with American Express, support this year’s Small Business Saturday ® celebration, which takes place on Nov. 24, 2018. This special event is dedicated to supporting the independent businesses that make our communities unique and provide invaluable contributions to our economy.

As a corporate supporter of Small Business Saturday®, Bank of America Merchant Services is proud to support its small business clients – and small businesses across the country – through a robust campaign to encourage local businesses to take part in this special event, and to inspire shoppers to patronize these important local establishments.

“Bank of America Merchant Services is pleased to partner with American Express to support this nationwide movement celebrating small businesses,” said Bank of America Merchant Services General Manager for Small Business Sydney Ivey. “Because we know how important small businesses are to their local communities, Bank of America Merchant Services offers a variety of helpful tips and industry insights, like its annual Small Business Payments Spotlight, that business owners can leverage to drive traffic and sales every day of the year.”

Created by American Express in 2010, Small Business Saturday serves as the ceremonial kickoff to the holiday shopping season for small businesses across the United States. In 2017, an estimated 108 million consumers reported shopping or dining at local, independently-owned businesses on Small Business Saturday, according to the Small Business Saturday Consumer Insights Survey. 1 The most reported reason for consumers aware of the day to shop and dine at small, independently-owned businesses on the day was to support their community (64%), according to the 2017 Small Business Saturday 50-State Survey. 2

Small Business Saturday celebrates the diversity of small businesses across the U.S. and Bank of America Merchant Services recognizes the importance of supporting small businesses, the jobs they help create, and the culture they foster in local communities. According to the U.S. Small Businesses Administration, small businesses accounted for 61.8% of net new jobs from the first quarter of 1993 until the third quarter of 2016 and represented 99.7% of firms with paid employees. 3

Merchants and consumers can learn more about Small Business Saturday and how to get involved by visiting ShopSmall.com.

For additional information on Bank of America Merchant Services, visit https://merch.bankofamerica.com/. Small business owners and managers can find more tips to help them run their businesses more efficiently at www.facebook.com/bankofamericamerchantservices and www.linkedin.com/company/bank-of-america-merchant-services/.

About Small Business Saturday

November 24 th is the ninth annual Small Business Saturday. Dedicated to supporting the diverse range of local businesses that help to create jobs, boost the economy and enhance neighborhoods around the country. Small Business Saturday was created by American Express in 2010 in response to small business owners’ most pressing need: getting more customers. Learn more and connect with us on ShopSmall.cominstagram.com/shopsmallfacebook.com/SmallBusinessSaturday.

1 The  Small Business Saturday Consumer Insights Survey  was conducted by Teneo among a nationally representative sample of 2,160 U.S. adults 18 years of age or older. The sample was collected using an email invitation and an online survey. The study gathered self-reported data and does not reflect actual receipts or sales. It was conducted anonymously on November 26, 2017. The survey has an overall margin of error of +/- 2.1%, at the 95% level of confidence. Projections are based on the current U.S. Census estimates of the U.S. adult population, age 18 years and over. The survey was commissioned by American Express and the National Federation of Independent Businesses (NFIB).

2 Morning Consult, on behalf of American Express and the National Federation of Independent Businesses (NFIB), from November 25-26, conducted the  2017 Small Business Saturday 50-State Survey, among a national sample of 10,000 Americans aware of Small Business Saturday. The data cited are estimated based on self-reported data from this survey and do not reflect actual receipts or sales. Morning Consult used a statistical technique called multilevel regression and post stratification (MRP) to construct state-level estimates from the national survey data. The state level estimates were weighted to approximate a target state level sample based on age, gender, and education. The interviews were conducted online in English, results from the national survey have a margin of error of plus or minus 1 percentage point, and the state-level margins of error vary by state (typically 2 percentage points to 5 percentage points).

3Small Business Administration Office of Advocacy Frequently Asked Questions, August 2017.

About Bank of America Merchant Services

Bank of America Merchant Services brings together market-leading payment, eCommerce and security solutions to help businesses optimize global digital commerce and improve their customer’s purchase journey.

The company processes 16.6 billion transactions at more than 705,000 merchant locations throughout the U.S., Canada and Europe. Bank of America Merchant Services guides businesses from the Fortune 50 to neighborhood establishments through the evolving world of payments.¹

To learn more, please visit https://merch.bankofamerica.com/.

¹ Per the Nilson report, March 2018, Issue #1127 and Bank of America Merchant Services data, June 2018

View source version on businesswire.com:https://www.businesswire.com/news/home/20181115005062/en/

CONTACT: Media Contacts:

Bryn Winburn

Bank of America Merchant Services

bryn.winburn@bankofamericamerchant.com

980.387.6598

KEYWORD: UNITED STATES NORTH AMERICA NORTH CAROLINA

INDUSTRY KEYWORD: TECHNOLOGY DATA MANAGEMENT SOFTWARE SMALL BUSINESS PROFESSIONAL SERVICES BANKING

SOURCE: Bank of America Merchant Services

Copyright Business Wire 2018.

PUB: 11/15/2018 07:30 AM/DISC: 11/15/2018 07:30 AM

http://www.businesswire.com/news/home/20181115005062/en

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