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CBA Partners With BigCommerce To Help Create Online Stores

Buoyed by the upsurge of e-commerce during the pandemic, the Commonwealth Bank is entering the space through a partnership with BigCommerce to help business customers create their own online stores.

In a first for the Australian banking sector, CBA will offer its 800,000 business-banking customers integrated access to the BigCommerce platform, a fledgling competitor of market leader Shopify with a market capitalisation of US$3.5 billion.

The move is a first for the Australian banking industry and is a direct response to the rapid shift online by Australian businesses over the past year.

It is also a major win for BigCommerce, a company that has been snapping at the heels of Shopify since a spectacular listing on the Nasdaq last year.

The company began in 2009 as Interspire, a Sydney-based e-mail marketing platform founded by Eddie Machaalani and Mitch Harper. It is now one of the world’s largest software-as-a-service (SaaS) e-commerce platforms.

While headquartered in Austin, Texas, BigCommerce also retains a significant presence in Sydney.

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