One way for digital businesses to increase revenue per customer with little or no increase in marketing expenditures is to embed a financial product in their non-financial app or platform.

One of the most successful companies offering embedded financial products is multinational ecommerce platform provider Shopify. It has steadily introduced new products and services to sellers that use its platform, including one-click checkout (Shopify Pay), buy now, pay later, business lending and payment processing. In the first quarter of 2023, Shopify reported rev...