Product Update: June 2025

This month, we’ve made it easier for buyers to get approved, set up payments, and request higher credit limits, all within a faster, more intuitive application and portal experience.

Boost completions by showing buyers what they qualify for - upfront

Buyers who qualify for approval based on real-time transaction data now see a pre-approved credit limit at the start of the application. When you share historical transaction data via API, Balance evaluates it instantly and, when possible, presents the approved limit before buyers enter their business details.

To set expectations and encourage follow-through, buyers are also informed that submitting additional information later in the flow may qualify them for a higher limit.

The pre-approval screen is part of our ongoing effort to demonstrate value earlier in the application, reduce friction, and encourage eligible buyers to complete the flow.

Increase approvals with alternative data, right in the credit application

Buyers who need to provide additional business information after connecting their bank account can now complete the process directly within the credit application. Business owner details and e-commerce platform data are submitted through new in-flow screens, creating a more seamless and intuitive experience.

Of buyers who were already part of the new flow, over 20% were ultimately approved for a credit limit.

Credential-free bank verification now in the credit application and buyer portal

RTP (Real-Time Payment) bank verification allows buyers to instantly verify their bank account by entering their account and routing numbers. It involves less friction than Plaid, which requires login credentials, and is faster than micro-deposits, which take several days to process.

RTP is now supported in the credit application and buyer portal. It simplifies the payment method setup during the credit application, reducing onboarding friction and speeding up activation. In the buyer portal, buyers can easily add or update their payment method, boosting payment completion rates.

Self-serve credit limit increase requests: now also in the buyer portal

Buyers can now request a higher credit limit in the buyer portal by entering their desired amount and a phone number for follow-up. This enables a Balance expert to contact and help guide the buyer in providing the most relevant additional details, boosting the chance of a positive result.

While Balance automatically increases limits for eligible buyers based on utilization and prompt repayment, manual requests help accommodate upcoming needs that aren’t reflected in recent transaction history.

Support smoother bank payments in the buyer portal

Buyers who choose to pay by ACH credit, wire transfer, or check can now view complete offline payment instructions directly in the buyer portal. For ACH credit and wire transfer, this includes Balance’s bank account details, along with a downloadable PDF that buyers can use for account verification or internal records.

Your merchant dashboard settings control the payment methods shown. This update enhances the payment experience by simplifying the process for buyers.