💳 Simplifying Finances
In 2024, small businesses face stricter lending practices, and financial concerns stop many from launching. Shopify Finance aims to change this. Built directly into Shopify’s platform, it gives entrepreneurs an all-in-one financial dashboard with Shopify Balance, Credit, Capital, Tax, and Bill Pay. With unified access to critical tools, Shopify Finance reduces the headaches and costs of managing multiple financial partners.
💰 Quick Funds Access
Getting funds fast is crucial for growing businesses. Shopify Capital provides merchants with access to up to $2M in funding. The new option for monthly repayment helps reduce costs for those who can pay sooner. Shopify Credit, a business Visa card, lets merchants earn up to 3% cash back on key business expenses, adding a boost to budgets for marketing, wholesale, and fulfillment.
📈 Higher APY, Greater Flexibility
Shopify Balance now offers a 3.39% APY, giving merchants even more rewards. Shopify Plus customers earn 4.43% APY, higher ACH limits, and next-day payouts. This puts money to work, growing earnings in merchants’ accounts. Shopify Credit offers a choice to repay in full monthly or from a percentage of daily sales—bringing more options and flexibility than many traditional business cards.
📊 Streamlined Tax Compliance
Shopify Tax eases tax compliance, setting aside sales tax in Balance accounts and filing automatically for eligible merchants. Additionally, Shopify Bill Pay allows merchants to pay suppliers in multiple ways—via card, bank, or Balance—regardless of vendor payment preferences. Batch payments save time and reduce fees, streamlining costs so entrepreneurs can focus on business growth.
Would centralized finances make business easier for you?
