The move marks another push by Shopify into the fintech arena.

Shopify (NYSE: SHOP) has introduced a new business credit card, Shopify Credit, exclusively for its merchants. The card is powered by Stripe and issued by Celtic Bank, accepted everywhere Visa is.

It aims to provide entrepreneurs with smooth cash flow and a credit line to maximize working capital for expected and unexpected expenses. Eligibility is based on factors like sales performance, not credit checks. However, in order to be eligible for the business credit card, the merchant must be using Shopify Payments and be based in the United States with sales on the Shopify platform. (Tech Crunch)

Additionally, the application process requires the completion of KYC (know your customer) procedures.

The card offers 3% cash back on the top spend category and 1% on other categories like wholesale and marketing. There are also no any fees on the card, including for late payments and foreign transactions.

Shopify has been actively expanding into the fintech space, previously partnering with Stripe and launching tools like Shopify Capital and Shopify Balance to support merchants with financial needs.

Related Story:  Shopify Launches Its Shop Pay Option On Facebook And Instagram

Photo by Roberto Cortese on Unsplash