Commonwealth Bank & BigCommerce partner on e-commerce transformation

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Australian multinational bank with business across New Zealand, Commonwealth Bank of Australia (CBA) partners with international ecommerce platform BigCommerce. Through this partnership, the bank says it will make it convenient for small, medium and large businesses to launch and flourish their online stores.

Commonwealth Bank announced this partnership on May 10th 2021, citing AB research showing online sales in Australia in January 2021 was almost 2/3rd more than January 2020. The bank says the result is widely consistent with levels seen in 2020, with online sales being high since the beginning of the pandemic.

More on the CommBank-BigCommerce partnership

One of the most popular and world’s biggest software-as-a-service (SaaS) ecommerce platforms, BigCommerce enables businesses and enterprises to build their online store, promote their stores to customers, and generate sales via channels such as Facebook, Instagram, and eBay.

The CBA says that the partnership will provide the business customers of the bank with an integrated offering which will allow them to launch their business. It will also help them grow their online presence as well as help them provide “best in class” online shopping experience for their customers. BigCommerce will let business customers of the bank build a shop-able website, integrate payment solutions, market campaigns, in addition to social media support. 

According to CBA, the partnership will also help merchants get paid faster through Same Day Settlement, when settling with CBA. Moreover, it will streamline the sign-up process through a dedicated “BigCommerce CBA phone line”. 

Ecommerce SaaS technology is continuously changing how businesses, card networks and banks fundamentally work together by bridging the gap between buyers and sellers in new ways while adding payment functionality as well as creating new purchase experiences.

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CBA & BigCommerce execs on the partnership

James Fowle, Executive General Manager for Everyday Business Banking of CBA said the bank is incredibly excited about what the partnership with BigCommerce will mean for its merchant customers. They’ve seen a rapid shift towards online, especially in the past year, and the partnership will hopefully help the bank’s business customers establish and expand their online business more easily, said Fowle.

He added that CBA knows most business owners considering an online store think about building their site first and how they’ll accept payments last. It is important that they provide the best value possible to their customers and it is via partnerships, like the one with BigCommerce, that’ll help CBA business customers attain their goals. “The partnership means we can support customers from the first design decision all the way to the first sale,” he said. 

Shannon Ingrey, Vice President and General Manager for APAC at BigCommerce said that merchants need to showcase their products in front of shoppers at places they’re making purchases more than ever before, and that is increasingly online. The goal of BigCommerce is to make it as easy as possible for their customers to have an omni-channel presence, says Shannon. Partnering with the leading bank of Australia provides a greater, broader opportunity for BigCommerce to further support businesses in their efforts to strategically build, grow and innovate their online business, adds Shannon.

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