Shopify announces a new merchant debit card and support for payment installment plans

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Shopify is announcing several new products and features today at Reunite, a virtual conference for the one million merchants using the company’s e-commerce platform.

The additions include Shopify Balance, which Chief Product Officer Craig Miller described as an attempt to rethink the bank account in a way that’s better suited to a business’ needs.

“The traditional products offered by banks were created in a world that’s very different,” Miller said. “We went back to first principles of how they should be designed.”

So Shopify Balance is a merchant account with no fees and no minimum balances.

Miller said that

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