Brex, the company reimagining financial systems so every growing company can realize their full potential, today announced its Instant Payouts feature is available for companies using PayPal, Square, and Stripe.
With the introduction of its Instant Payouts feature last fall, Brex became the first business account to offer customers instant access to cash from their revenue. First introducing the offering to customers on Amazon and Shopify, now Brex customers on PayPal, Square, and Stripe are able to immediately access their earnings, enabling them to accelerate their cash flow rather than waiting anywhere between a few days and a few weeks to get paid.
“We built Instant Payouts for Brex customers knowing the cash flow pain points small business owners face when selling through big platforms like Amazon,” said Max Segall, Senior Product Manager at Brex. “With today’s expansion to PayPal, Square and Stripe, customers can get faster access to even more of their revenue, making it easier to manage their cash flow and stay offensive about reinvesting in their businesses.”
US-based sellers on Amazon, Shopify, PayPal, Square and Stripe are eligible for Brex’s Instant Payouts offering for a small fee. Brex customers using Instant Payouts also have access to built-in expense management, rewards of up to 8x on every purchase, which can be used to offset the instant payouts fee, and free wire and ACH transfers.
“As an omni-channel retail business selling through Shopify, Stripe, and Square, Brex rolling out Instant Payouts to additional platforms has been a game changer for us. Now we can use Brex to get instant access to all of our revenue, regardless of whether we earn it in the store or online, allowing us to reinvest in our business immediately without the typical multi-day order-to-cash lag,” said Eric Rasmussen, founder and CEO of The Lotus Lookout. “The instant payouts feature is one of the many reasons we view Brex as the future of financial services.”
This launch adds to the suite of financial services Brex already offers its ecommerce customers. The company introduced its credit card product to ecommerce companies in February 2019, and in October 2020 announced the launch of Instant Payouts and new tailored rewards. With Brex, businesses can get a corporate card, set up a cash management account, and get instant access to their earnings.