The Amazon Prime Card and Citibanks Prime Now Cards have become popular among consumers as well as for small businesses.
But they’re also becoming less popular with consumers.
In the first quarter of 2018, Amazon Prime and Citigroup’s Prime Now cards lost ground in both consumer and small business sales.
They still had an overall lead in the category in the first six months of 2018 but were in the bottom 10 for small business customers.
Amazon Prime Cards and Citit Cards lost market share to American Express, Mastercard and Discover in the second quarter.
In addition, Amazon’s Prime Card, the $100 annual membership to Prime Now, dropped 6% in consumer sales, down to about 4.5 million.
“Our sales declined because of competition from Amazon and its competitors,” said John F. Bresch, chief executive of Citigroup Financial.
“The competition from Prime Now was very strong.”
Amazon has expanded its offerings in the past few months to include more products, including a mobile app, the new $99 Echo Show and a new $60 Kindle Fire.
The Amazon Card has also expanded to include many of the popular categories of Prime and other rewards.
But, the card’s continued weakness in consumer and smaller business sales and the inability to offer Amazon’s exclusive deals and promotions may limit its long-term success.
Amazon’s stock is up 17% in 2018, but its share of the market is down from about 30% in 2016.
Amazon Card offers more benefits than a traditional credit card, such as access to Amazon’s online shop, discounts on Amazon.com products and access to its Prime membership program.
It also has a limited number of cards and the company has been able to grow the number of customers that use its cards, which has helped drive up its stock price.
Amazon is expected to report its earnings on Tuesday, and the stock is expected at $11.70.
The stock is trading at $8.68.