Shopify unveils new products aimed at entrepreneurs grappling with COVID-19

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OTTAWA — Shopify Inc. is launching a handful of business management and sales tools to help entrepreneurs “future-proof” their companies as they grapple with COVID-19.

The Ottawa-based e-commerce giant will roll out a “balance card” that can be used for purchases or withdrawing from ATMs and offers cashback, discounts on shipping and marketing and no monthly fees or minimum balances.

The card will be available later in the year in the U.S. and is meant for entrepreneurs using their personal bank accounts and cards for business or who those who find banking products aren’t designed to meet the needs of small businesses.

Shopify will also allow merchants in the U.S. to offer a “buy now, pay later” feature and in those in more markets to set fees, minimum order prices and distance radiuses for local deliveries. The company did not say when the service will be available to Canadian merchants.

The announcements were made at Reunite, a virtual event Shopify put on in lieu of its annual conference Unite.

Unite was due to be held in Toronto in May, but was cancelled in March because of COVID-19.