Shopify And Melio Launch First Fully Integrated Accounts Payable Solution For Shopify Merchants
U.S.-Based Merchants Will Be Able To Pay And Manage Their Bills Directly From Their Shopify Admin
Melio, a leading B2B payments platform for small businesses, today announced a partnership with Shopify to power Shopify Bill Pay, an accounts payable solution that will transform how Shopify merchants pay and manage their business bills. Through Shopify Bill Pay, merchants will now have the ability to pay and manage their vendors and contractors in the same place they run their business: through their Shopify admin.
"We are excited to announce this unique partnership with Shopify that will simplify merchants' bill-paying experience – providing them with more flexibility to help with their cash flow and saving them countless hours spent tracking invoices," said Matan Bar, Melio's CEO and co-founder. "Shopify Bill Pay will bring a whole new experience to merchants who are overwhelmed by managing their cash flow and inventories, preparing their stock for busy seasons and keeping track of each vendor's payment requirements."
Shopify Bill Pay enables merchants to pay bills with their preferred method (credit, bank, or wire transfer), and allows them to choose the way in which the vendor receives the payment separately (check, bank, or wire transfer). Merchants will be able to pay their invoices for everything ranging from inventory and shipping to advertising, both in the U.S. and abroad as Melio supports payments to 100 countries.
Shopify Bill Pay saves merchants an average of 16 hours a month on paying business bills and is 2x faster than other B2B expense solutions. It also seamlessly integrates into Shopify Balance, Shopify's free financial business account. With Shopify Bill Pay, there are no subscription or sign-up fees, and there are free options for merchants to pay bills with their Shopify Balance accounts or ACH bank transfers.
"Shopify is committed to making commerce better for everyone, which is why we teamed up with Melio to power Shopify Bill Pay and free up our merchants' time and resources, so they can focus on growing their business," said Shruti Patel, Global Head of Merchant Services Partnerships and Monetization at Shopify.
This partnership marks Melio's first embedded finance offering with a commerce platform. Melio's innovative payments technology is designed to be embedded into partners' platforms – creating a seamless, customized payments experience that does not require customers to leave their preferred platform.
Shopify is the leading global commerce company that provides essential internet infrastructure for commerce, offering trusted tools to start, scale, market, and run a retail business of any size. Shopify makes commerce better for everyone with a platform and services that are engineered for speed, customization, reliability, and security, while delivering a better shopping experience for consumers online, in store and everywhere in between. Shopify powers millions of businesses in more than 175 countries and is trusted by brands such as Mattel, Gymshark, Heinz, FTD, Netflix, Kylie Cosmetics, SKIMS, Supreme, and many more. For more information, visit www.shopify.com.