Digital Darts’ Post

Ecommerce platform Shopify is expanding and centralizing its financial capabilities as Shopify Finance: The platform has offered capabilities including lending (Shopify Capital, Shopify Credit) and business banking (Shopify Balance) for some time, but now the company is leaning further into its embedded finance offerings. Shopify Finance will bring together core products like lending and banking plus bill pay, tax management, and real-time financial insights all in the same place. The streamlined financial hub enables users to more quickly access funds, earn APY "rewards" on funds held in Shopify Balance, more easily manage sales tax compliance, and access capital without traditional credit checks. Shopify Finance encapsulates the increasingly popular notion of embedding financial capabilities within vertical SaaS platforms, with the financial services benefiting from data and product integrations while making users stickier and driving incremental revenue. More on Shopify's recent news here: https://lnkd.in/eMsFvU9X

Starting today, merchants can access Shopify Balance, Shopify Credit, Shopify Capital, Shopify Bill Pay, and Shopify Tax in one place. It’s the new Shopify Finance suite, right in the admin. For entrepreneurs, managing cash flow, paying vendors, and getting approved for loans can be slow and complicated. At Shopify, we’re in the business of helping entrepreneurs grow without restraints—and building innovative solutions to do exactly that. We brought all our financial tools together in the Shopify admin so you can spend, borrow, and manage your cash flow in one convenient place/location. Needlessly complicated finances shouldn’t overshadow the dream of running a business. Check out Shopify Finance 👇 shopify.com/finance

Complicated finances should NOT overshadow the dream of running a business. Our mission is to make business finances easier, more intuitive, and more accessible for merchants on Shopify. Incredibly proud of the work of so many Shopifolk who are working every day to make this happen. shopify.com/finance

Managing your Shopify store’s finances just got easier—here’s what you need to know. On October 29, 2024, Shopify introduced Shopify Finance, a groundbreaking new platform designed to streamline financial management for entrepreneurs. In a world where traditional banks haven’t kept up with the pace of eCommerce, Shopify is stepping in to make things easier for merchants with a unified platform for managing finances—from funding and taxes to payments and bill management. 🔑 Key Features of Shopify Finance: 1. A Unified Finance Dashboard:     Shopify Finance brings all of Shopify’s financial tools into a single, easy-to-navigate dashboard in the Shopify admin. Merchants can now manage Shopify Balance, Shopify Credit, Shopify Capital, Shopify Bill Pay, and Shopify Tax in one place. 2. Faster Access to Funds:     Tools like Shopify Capital and Shopify Credit enable faster access to funding with flexible repayment terms tied to daily sales, making cash flow management more predictable. 3. Automatic Rewards & APY:     Shopify Balance accounts now offer 3.39% APY, and Shopify Plus merchants benefit from 4.43% APY rewards, on top of cash-back benefits from the Shopify Credit card. These features help merchants grow their businesses while their money works harder for them. 4. Simplified Tax Compliance:     Shopify Tax automatically calculates and sets aside the correct amount for sales tax, reducing the burden of tax season and streamlining compliance for merchants. 5. Flexible Payment Solutions:     Shopify Bill Pay allows merchants to pay their bills in the way that suits them best, whether by credit card, debit card, bank transfer, or Shopify Balance. Why This Matters: Shopify Finance is designed to remove the complexity and administrative burden from financial operations so that merchants can focus on what really matters: growing their businesses. Shopify’s move to centralize financial tools in one platform offers more than just convenience—it empowers entrepreneurs to scale more effectively by making financial operations easier to manage. 🧠 The Future of Financial Innovation As Shopify continues to innovate, the next step will likely involve smarter financial tools—ones that can not only help merchants manage their finances but also optimize them with intelligent insights. As AI and machine learning evolve, I believe we’ll see more tools that help merchants make data-driven financial decisions in real-time, enabling them to operate more efficiently and grow with greater confidence. 💬 What do you think? - How will Shopify Finance impact your daily store operations? - Are there any specific features you’re excited to explore? Let’s discuss in the comments below! #Shopify #eCommerce #ShopifyFinance #FinancialSolutions #SmallBusiness #Entrepreneurship #FinTech #ShopifyBalance #BusinessGrowth

Shopify Finance: Tools for Managing Growth at Every Stage (2024) #IndiaFinance

Shopify Finance is transforming how merchants manage their finances—here’s why this valuable addition is a game-changer for entrepreneurs. Thanks to Shopify for making this possible!

When I was growing my ecommerce business I borrowed money to pay my personal bills. Or the cash was for inventory. In ecom that is the same thing. Cash flow. It’s the most challenging part of growing an ecommerce business and tax law makes it harder. I made $300K in a year, but I increased my inventory by $200K to keep up with growing demand. That left me $100K to pay my bills. Actually, it didn’t. The full $300K is taxable, so I had to pay the IRS about $100K so despite a $300K profit I had no money to pay my bills. Hence, debt. Revenue Based Financing (those loans from Shopify or Paypal) are the worst, they are too expensive. I used a Line of Credit from Citizens Bank, they lent me 45% of the value of my inventory at a cheap interest rate (Prime + 0.5%) and I only paid for what I used and when I used it. That made life a bit easier. Until the bank pulled it and demanded repayment in-full during the great recession, but that’s a story for another day. There is Cash Based accounting which means you pay taxes on the cash earned, not the inventory accumulated but you’re not supposed to stay on Cash Based if you have inventory and over $1mn in annual revenue. Accrual Based does have some tax-advantages as well, you can take on debts in year 1 and not pay them until year 2 so there is opportunity to get creative. A lot of focus these days is on 90 days terms from your factory or making products on demand. Those are great approaches to solving the ecom growth cash crunch. If you are growing fast, profits alone are never enough to finance inventory, pay your taxes and pay yourself, so be prepared with a plan to pay your bills as you grow revenue rapidly. 

Introducing Shopify Finance—an all-in-one financial suite designed to support Shopify merchants right where they run their business! 🚀 Now, managing everything from earnings and expenses to funding and taxes is built directly into the Shopify admin, empowering merchants to streamline their finances as easily as they do their sales. Here’s what Shopify Finance includes: ✔️Shopify Balance: A free business account with next-day payouts and APY rewards on every dollar saved. ✔️ Shopify Credit: A Visa card offering up to 3% cashback on eligible business purchases, perfect for reinvesting in growth. ✔️ Shopify Capital: Flexible funding up to $2M with repayments tied to daily sales and zero impact on personal credit. ✔️ Shopify Bill Pay: Easily pay vendors with your credit card, even if they don’t typically accept them. ✔️ Shopify Tax: Automated tax calculations, insights into tax liabilities, and filing assistance. With Shopify Finance, merchants gain essential tools to manage their money as they build their brand—putting them in control every step of the way. 🔥

💳 Shopify Finance Launch: Key Features for Small Businesses 💳 1. Fast Funds Access: Instant access to earnings via @Shopify Balance, helping merchants manage cash flow efficiently. 2. Rewards: Shopify Balance offers cashback rewards, enabling businesses to earn while they spend. 3. Flexible Financing: Shopify Capital provides flexible repayment on loans, supporting merchants with various funding needs. 4. Bill Payments: Merchants can manage and pay bills directly through Shopify, reducing the need for third-party tools. 5. Tax Automation: Built-in tax services help businesses manage compliance, simplifying tax reporting. https://lnkd.in/eU9R4A_E

Еcom is a tough business, merchants juggle a lot of roles. They’re marketers, customer service reps, inventory managers, and financial wizards. But let's face it, the financial hat is often the heaviest. Harley Finkelstein just announced Shopify Finance, offering a suite of tools that feels like a breath of fresh air. → Why? Because it’s not just about offering a new feature. It's about transforming how you manage your business finances. Here's how: 🔵 Unified Financial Hub Imagine not having to jump between ten different platforms. All your financial tools are right there in your Shopify admin. A single glance gives you a realtime view of your business's financial health. 🔵 Simplified Cash Flow Management Shopify Balance and Shopify Capital make cash flow as easy as breathing. Need funds for inventory or marketing? It’s just a click away. 🔵 Effortless Vendor Payments With Shopify Bill Pay, paying suppliers is no longer a chore. It’s as simple as sending an email, minus the errors. 🔵 StressFree Tax Compliance Shopify Tax takes the headache out of taxes. Stay compliant and let Shopify handle the complexities. 🔵 Enhanced Growth Opportunities Quick access to credit and capital means you can seize opportunities without red tape. No more waiting for lengthy approvals. Shopify Finance is more than a tool. It revolutionizes how merchants handle finances. So, if you're a Shopify merchant feeling the weight of financial management, consider this your new best friend. Check it out and see how it could change the way you manage your business. What aspect of Shopify Finance excites you the most? #shopify #finance #ecommerce #ecom