Digital Banking

Brex expands instant payouts to PayPal, Square, Stripe merchants

Image courtesy of iStock

April 22, 2021

Brex financial systems' instant payout service is now available to PayPal, Square, and Stripe merchants. Amazon and Shopify customers had been on the platform, which charges a small fee to immediately allow business owners to access their earnings rather than waiting to get paid, since its launch last year.

"We built instant payouts for Brex customers knowing the cash flow pain points small business owners face when selling through big platforms like Amazon," Max Segall, senior product manager at Brex said in a company release. "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."

Brex customers also have free wire and ACH transfers, as well as access to built-in expense management and rewards of up to eight times on each purchase, which they can use to offset the instant payouts fee.

"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, Eric Rasmussen, founder and CEO of The Lotus Lookout, a retailer based in Illinois that sales Magic: The Gathering and Dungeons & Dragons gaming sessions and products. "The instant payouts feature is one of the many reasons we view Brex as the future of financial services. 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."