The Memphis, Tenn.-based financial institution will hold deposits and issue debit cards for U.S. merchants using the e-commerce giant’s new Balance feature. Stripe is also launching a new set of APIs that allows its clients to offer their customers accounts and other services with Goldman Sachs in the U.S. and Citibank and Barclays internationally. (The Wall Street Journal, The Logic)

Talking point: The setup means Shopify needn’t go to the trouble of getting banking licences, managing deposits or building a lot of financial-services technology from scratch. Stripe is already the main processor of Shopify Payments, the fees from which contribute much of the latter’s lucrative merchant-solutions business. Shopify has proven adept at forging such relationships. In July, it linked up with Affirm on an installment feature for Shop Pay, the checkout system attached to Payments; the deal earned it a lucrative stake in its new partner.