Shopify credit, Fiserv's partnership with Amazon, Zelle on Checkbook and more
Shopify offers SMBs financing, Fiserv collaborates with Amazon for rewards-based purchases, Checkbook partners with Zelle for streamlined payments, and Primer joins forces with Volt.
1. Shopify Credit
Shopify has rolled out a new initiative called Shopify Credit, aimed at helping small and medium-sized businesses (SMBs) gain access to much-needed financing in today’s fluctuating economy.
The standout feature of Shopify Credit is that it assesses credit limits and eligibility based on the merchant's business performance, rather than relying on personal credit scores. This means that no credit checks are required, and the merchant's credit history remains unaffected.
Before even signing up, the credit limit for Shopify Credit is determined, and activation of the credit card can be done in a matter of minutes. What's more, Shopify has tailored the credit card to meet the specific needs of its merchants, understanding the ups and downs they may face in their businesses.
Overall, Shopify's latest move with Shopify Credit demonstrates their commitment to making commerce more accessible and less complex for SMBs. By offering a seamless and personalized financing solution, they are helping merchants focus on what matters most—growing their businesses.
2. Fiserv’s uChoose <> Amazon.com partnership
Fiserv has teamed up with Amazon to offer a new benefit for credit and debit cardholders enrolled in Fiserv's uChoose rewards program.
Customers who are part of both uChoose and Amazon's Shop with Points program can now use their accumulated rewards points to make purchases on Amazon.com and the Amazon mobile app. With over 200 financial institutions already enrolled in uChoose and more than 8,000 global and local merchants in its network, the collaboration is set to make a significant impact.
3. Checkbook partnership with Zelle
US-based payments platform Checkbook has partnered with Zelle, the digital payments network, to offer a new payout option. This integration aims to simplify push payments, allowing Checkbook customers to make payments via Zelle. The collaboration strengthens Checkbook's position as a comprehensive single portal for digital and physical payments, providing a modern and faster payment solution. Recipients can choose their preferred payment method, and Zelle's wide reach enables instant settlements. This move follows Checkbook's mission to streamline large-scale payment processing for businesses and offer multiple payment options through a single API.
4. Volt is available on Primer.io
Primer has partnered with Volt to offer global merchants instant bank payments through Volt's open banking network. This collaboration allows merchants to accept real-time account-based payments via Primer's platform, enhancing online and in-store checkout experiences. The integration benefits businesses by reducing fees, enabling faster settlements, and offering a 'Pay by Bank' option across the UK, EU, and Brazil. The strategic alliance underscores Primer's commitment to diverse payment options and highlights the shared focus on payment innovation and optimization between the two companies.