Brex Launches E-Commerce Credit Card

San Francisco based Brex is launching their second credit card product, this time it is an e-commerce card with a 60-day interest-free credit line; the limits on the card will be on average 3 to 5 times larger than most corporate credit cards and users can make a purchase at any time during the month to then pay 60 days later; the move to e-commerce opens up Brex to a significantly larger market than their previous card and they have found that e-commerce firms pay for a lot of big purchase using cards; so far the firm has seen 0% defaults even as some companies have gone under with their first product; the expect to incur some losses on this card but believe it will help them to refine their credit model. Source.

  • Todd Anderson

    Todd is the host of PitchIt: the fintech startups podcast, a weekly interview show featuring emerging fintech founders and leading venture capitalists. He is responsible for leading the content team which covers fintech through daily & weekly email newsletters, editorial, virtual events, and in-person conferences. He has been covering fintech, banking, and venture capital for more than 15 years, including speaking regularly at industry events.