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Writer's pictureStaff Writer

Shopify reports $587 million in Q1 Advances and Loans to merchants

Updated: May 16


shopify

Shopify digs in deeper with Merchant Cash Advances and Loans to its merchants. The company reported its earnings on Wednesday. They said, "In the three months ended March 31, 2024, and 2023, the Company purchased $587(in millions) and $362, respectively, of merchant cash advances and loans to Shopify merchants". That's a 225 million dollar increase year over year!

shopify

That's almost the opposite of what PayPal reported as they had a $247 million drop in loans and advances.



So whose stock is looking better right now?

They are almost identical with Shopify at $62.73 and PayPal at $63.63 at mid-day on May 9th. They offer a lot of similar services like loans and advances, and payment processing but are also very different companies.

We will see by next quarter if they both continue in the same direction with regard to their lending business units.




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