Wix Debuts Financial Services Package to Fuel Business Expansion
Wix.com Ltd., a leading SaaS website builder platform, has launched a new financial services suite called Wix Checking and Wix Capital. The suite is designed to help small business owners manage cash flow and support growth seamlessly within the Wix platform.
Introducing Wix Checking
Wix Checking is a fully integrated business checking account at no extra cost, directly within the Wix platform. Powered by Unit’s embedded finance technology, it offers a clear, real-time view of cash flow and business performance. Users can access their earnings instantly after a sale, track income and expenses, and make faster decisions.
One of the key benefits of Wix Checking is its automatic syncing with Wix Payments. This eliminates the need for external banking tools or manual reconciliation, saving time and reducing errors. Wix Checking also provides a Wix Visa® business debit card for direct spending or the option to transfer funds to external bank accounts for greater flexibility.
Introducing Wix Capital
Wix Capital is a Merchant Cash Advance (MCA) service designed to help businesses address cash flow gaps and unlock growth. It offers a faster, more accessible alternative to traditional bank funding with a fixed fee and a percentage of future sales. This service is particularly beneficial for businesses with essential business needs such as inventory purchases, payroll, and operational investments.
Simplifying Financial Operations
Together, these services offer Wix merchants an all-in-one financial ecosystem that simplifies money management and funding. By streamlining financial operations, merchants can make faster and more informed business decisions with enhanced control and speed. Initially available to a select group of U.S.-based users, Wix plans to expand access over time.
It's important to note that Wix Checking and Wix Capital are not FDIC insured. FDIC insurance only covers the failure of a covered bank. Also, certain criteria and qualifications may apply for the use of these services. Banking products and services are provided by Lincoln Savings Bank, Member FDIC.
Wix is committed to continuous innovation and the delivery of new features and products. The launch of Wix Checking and Wix Capital is part of Wix's broader commitment to supporting the full journey of business ownership. Wix offers a comprehensive platform for self-creators, agencies, enterprises, and more, featuring industry-leading performance, security, AI capabilities, and a reliable infrastructure.
[1] Wix Press Release: Introducing Wix Checking and Wix Capital
[2] TechCrunch: Wix launches financial services suite for small businesses
[3] VentureBeat: Wix launches financial services suite for small businesses
[4] Lincoln Savings Bank
[5] Visa U.S.A. Inc.
- Wix Checking, powered by Unit's embedded finance technology, provides a digital, seamless viewing of cash flow and business performance for small business owners within the Wix platform.
- Wix Capital is a Merchant Cash Advance (MCA) service that leverages innovative technology to offer faster, more accessible funding for businesses, addressing cash flow gaps and fostering growth.
- With Wix Checking and Wix Capital, Wix merchants gain access to an all-in-one financial ecosystem that utilizes AI capabilities and a reliable infrastructure to simplify and streamline their financial operations.
- The integration of VR technology in this financial ecosystem could potentially offer immersive, digital tools to help small business owners make faster and more informed decisions in the future.
