Wix Launches New Financial Suite to Empower Merchants

Wix.com has launched Wix Checking and Wix Capital, a financial services suite designed to help merchants manage cash flow and fund growth. Wix Checking offers a fully integrated business checking account at no extra cost, while Wix Capital provides a faster alternative to traditional bank funding through Merchant Cash Advances. The new services are currently available to a select group of U.S.-based users and aim to remove barriers to capital, aiding business growth.

Wix.com has expanded its offerings to include Wix Checking and Wix Capital, a comprehensive financial services suite designed to support small businesses in managing cash flow and funding growth. These new services are currently available to a select group of U.S.-based users who utilize Wix Payments, with plans for broader rollout in the future.

Wix Checking, powered by Unit's embedded finance technology, provides users with a fully integrated business checking account within the Wix platform at no extra cost. This service offers real-time cash flow monitoring and instant access to earnings, eliminating the need for external banking tools and manual reconciliations. Users can track incoming revenue and outgoing expenses side by side, making faster and more informed decisions. The Wix Visa® business debit card and the ability to transfer funds to an external bank account offer added flexibility.

In addition to Wix Checking, Wix has introduced Wix Capital, a Merchant Cash Advance (MCA) service designed to address funding needs more efficiently than traditional banking methods. Wix Capital allows businesses to request a cash advance in exchange for a fixed fee and a percentage of future sales. This provides immediate access to funds for essential business needs such as inventory, payroll, or operational expenses. The service is built directly into the Wix platform, enabling users to manage their finances without leaving the tools they already use.

Amit Sagiv and Volodymyr Tsukur, Co-Heads of Wix Payments, stated, "With Wix Checking and Wix Capital, we’re giving users a complete financial solution built into the platform they already use. It’s fast, simple, and designed to help small businesses access their money and fuel growth — all in one place."

These new financial services aim to remove barriers to capital, making funding more accessible for small businesses. By integrating directly with Wix Payments, Wix creates a closed-loop financial ecosystem that reduces friction and improves user retention. This move aligns with the broader trend of vertical SaaS platforms expanding horizontally into financial services, as seen with competitors like Shopify, Toast, and Square.

References:
[1] https://www.wix.com/press-room/home/post/wix-launches-financial-services-suite-to-power-business-growth
[2] https://www.stocktitan.net/news/WIX/wix-launches-financial-services-suite-to-power-business-hqq8pzr2adxx.html