Wix Debuts Financial Services Collection for Boosting Business Development
Wix.com Ltd., the popular website building platform, has expanded its offerings with the launch of Wix Checking and Wix Capital. These new financial services are designed to help small businesses streamline cash flow management and access funding directly within the Wix platform.
Streamlining Banking with Wix Checking
Wix Checking is a fully integrated business checking account embedded within Wix. It's available at no extra cost to eligible users in the U.S. This innovative solution provides real-time visibility into cash flow, showing immediate access to sales earnings as soon as transactions complete.
The service syncs automatically with Wix Payments, eliminating the need for third-party banking tools or manual bookkeeping. Business owners can spend directly with a Wix Visa business debit card or transfer funds externally, thus simplifying money management and saving time.
Wix Checking enables faster financial decisions by providing instant access to funds and consolidated tracking of revenue and expenses all within the Wix dashboard.
Accessing Funding with Wix Capital
Wix Capital is a Merchant Cash Advance (MCA) service designed to help businesses quickly obtain funding without the cumbersome requirements and delays typical of traditional bank loans. Businesses request an advance on future sales and repay by paying a fixed fee plus a percentage of revenue until the advance is settled.
This funding can be used for critical business expenses such as inventory purchases, payroll, and operational investments. The service is integrated directly into the Wix platform, allowing users to apply for and receive funding without leaving the tools they use daily.
Benefits for Small Businesses
The introduction of Wix Checking and Wix Capital offers several benefits for small businesses. Improved cash flow management is achieved by providing instant access to sales revenue and real-time financial insights. Simplification of financial operations is achieved by keeping banking, payments, and funding in one platform, reducing errors and saving time.
Easier access to working capital without traditional loan barriers enables businesses to seize growth opportunities promptly. Flexibility in spending is provided through a business debit card linked to Wix Checking and the option to transfer funds externally.
This launch is part of Wix’s broader commitment to supporting the entire business lifecycle, from day-to-day financial management to growth financing.
Currently, both services are available to a select group of U.S.-based Wix Payments users, with plans for wider rollout in the future.
In summary, Wix Checking streamlines banking by integrating it fully into Wix’s business ecosystem, while Wix Capital provides a fast, flexible funding option tailored to small businesses. These services aim to help merchants improve cash flow and accelerate growth efficiently.
At ffnews.com, it's reported that Wix.com Ltd. has launched Wix Checking and Wix Capital to assist small businesses in finance and technology sectors. Wix Checking, a business checking account within Wix, offers real-time cash flow visibility, a Wix Visa business debit card, and automated syncing with Wix Payments.
On the other hand, Wix Capital provides Merchant Cash Advance (MCA) services to facilitate quick funding for business expenses, without the complexities of traditional bank loans. Businesses can access these services directly within the Wix platform, simplifying their financial operations and fostering growth.
