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.