As you know, there is no free lunch, and nothing is free in this world. Should banks charge fees for a business credit card ? The answer to this question – it depends. Most banks do not charge fees for business credit card, but they also do not have good UI/UX or controls needed to manage expenses or receipts of business credit cards. On the other hand, fintechs provide expense management, automatic upload of receipts, and various other services, and hence they charge customers on a monthly basis for their services.
Every business is here to earn money; otherwise, they would not survive for long. Most banks usually give business credit cards to big businesses, and they earn enough money via MDR on transactions. On the other hand, fintechs need to partner with banks to issue business credit cards, and they are focused on SMEs. Since banks are not willing to share the entire MDR with anyone, the fintechs focus their efforts on UI/UX and customer experience, and charge fees for business credit cards.