San Francisco based Brex is launching their second credit card product, this time it is an e-commerce card with a 60-day interest-free credit line; the limits on the card will be on average 3 to 5 times larger than most corporate credit cards and users can make a purchase at any time during the month to then pay 60 days later; the move to e-commerce opens up Brex to a significantly larger market than their previous card and they have found that e-commerce firms pay for a lot of big purchase using cards; so far the firm has seen 0% defaults even as some companies have gone under with their first product; the expect to incur some losses on this card but believe it will help them to refine their credit model. Source.
