Melio
About MelioMelio is a fintech platform that simplifies payments for small and medium-sized businesses, offering free ACH transfers, credit card payments, and seamless integration with accounting software. It helps businesses manage accounts payable efficiently and securely with features like automated bill capture and scheduled payments.
What is Melio?
Melio is a cloud-based accounts payable (AP) and receivable (AR) platform designed to simplify and automate business payments for small and medium-sized enterprises (SMEs). By providing flexible payment options (including ACH transfers, credit/debit cards, wire transfers, and checks), Melio enables businesses to pay vendors and contractors efficiently.
It includes integration with accounting software like QuickBooks Online and Xero, allowing for real-time synchronization of financial data. The platform also offers batch payments, recurring billing, and international payments in multiple currencies. Additionally, Melio’s mobile application provides users with the ability to manage payments on-the-go, enhancing accessibility and control over business finances.
Melio’s pricing structure offers a free plan with limited ACH transfers per month that makes it accessible for businesses with moderate payment volumes. For organizations requiring more advanced features and higher transaction limits, paid plans are available.
Why Choose Melio?
- Cost-Effective Payments
It allows various payment methods including Free ACH transfers, credit card payments, and International payments.
- Streamlined Payment Process
- Automated Bill Capture: Upload and scan invoices to automatically create bills in the system.
- Scheduled Payments: Set up one-time or recurring payments to ensure bills are paid on time.
- Batch Payments: Combine multiple bills from the same vendor into a single payment, reducing administrative effort.
- Seamless Integration with Accounting Software
Melio integrates with popular accounting platforms, making bookkeeping easier by syncing your payment data.
- Security and Control
It implements custom approval processes to maintain control over outgoing payments and assign specific permissions to team members for secure financial management.
Why is Melio better than its competitors?
Melio stands out from its competitors by offering a combination of:
- User-friendly features
- Cost-effective payment options
- Seamless integration with accounting software
- Free ACH transfers (affordable choice for SMBs)
- Flexibility to pay vendors via credit cards (with a 2.9% fee)
- Supports international payments at a flat rate of $20
- Integrate with popular accounting platforms
- Mobile app for on-the-go management
- Robust security features (approval workflows and role-based access)
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Melio is a digital payment platform designed to simplify the accounts payable process for small and medium-sized businesses (SMBs). It enables businesses to pay their vendors, manage invoices, and track payments easily through a user-friendly interface. Melio allows free ACH payments, credit card payments (with a 2.9% fee), and international transactions for a flat fee, making it a cost-effective solution for managing cash flow.
The platform integrates seamlessly with popular accounting software like QuickBooks and Xero, ensuring smooth synchronization of financial data. With features like automated bill capture, scheduled payments, batch payments, and role-based access control, Melio streamlines the financial operations of businesses, saving time and reducing administrative overhead. Additionally, Melio offers a mobile app for on-the-go management and robust security features, making it a comprehensive solution for managing business payments with ease and efficiency.
2018
New York City
Matan Bar
Melio is a fintech company founded in 2018, with a mission to simplify the payment process for small and medium-sized businesses (SMBs). The platform allows businesses to manage their accounts payable by offering cost-effective solutions for paying vendors, tracking payments, and managing invoices. Melio enables businesses to send payments via ACH transfers for free, and also provides the option to pay with credit cards for a fee. It supports international payments, integrates with accounting software like QuickBooks and Xero, and offers features such as automated bill capture, payment scheduling, and role-based access control. Headquartered in New York City, with an R\&D center in Tel Aviv, Israel, Melio has quickly gained recognition as a user-friendly and efficient solution for SMBs looking to streamline their financial operations.
Go
$0
Single User MonthlyCore
$22
One User / Plus $10/month per additional user MonthlyBoost
$47
One User / Plus $10/month per additional user MonthlyUnlimited
$68
Unlimited users MonthlyPlatinum
Custom pricing
Custom CustomWhat is Melio?
Melio is a digital payment platform designed to simplify the accounts payable process for small and medium-sized businesses (SMBs), allowing them to pay vendors, manage invoices, and track payments easily.
How much does Melio cost?
Melio offers free ACH transfers, but charges a 2.9% fee for credit card payments. There is a flat $20 fee for international payments.
Can I pay vendors internationally with Melio?
Yes, Melio supports international payments to over 80 countries for a flat fee of $20 per transaction.
Can I schedule payments with Melio?
Yes, Melio allows you to set up one-time or recurring payments to ensure bills are paid on time.
What types of payments can I make with Melio?
You can pay vendors using ACH bank transfers, debit cards, or credit cards. You can also pay invoices over time using installment options.
Is there customer support available for Melio?
Yes, Melio provides customer support via email, live chat, and phone, ensuring assistance is available for any issues or questions you may have.
Melio is a digital payment platform designed to simplify accounts payable for small and medium-sized businesses (SMBs). It focuses on providing an easy-to-use interface for managing vendor payments, invoices, and cash flow. The platform is especially known for its flexible payment options and seamless integrations with popular accounting software like QuickBooks and Xero. Below is an expert review outlining the pros and cons of using Melio for your business.
Pros of Melio:
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Cost-Effective Payment Solutions:
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Free ACH Transfers: Sending payments through ACH transfers is free, making it an affordable choice for businesses that want to avoid transaction fees.
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Credit Card Payments: Though there is a 2.9% fee for credit card payments, businesses can earn rewards from their credit card provider, making it a potential benefit.
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Flat Fee for International Payments: Melio charges a flat $20 fee for international payments, which is highly predictable and often cheaper than other platforms that use variable rates or hidden costs.
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User-Friendly Interface:
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Melio’s platform is intuitive, with simple tools to manage accounts payable, track payments, and view invoices. It’s designed for non-financial users, making it ideal for SMBs without dedicated finance teams.
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Seamless Integration with Accounting Software:
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Melio integrates smoothly with accounting tools like QuickBooks and Xero, allowing businesses to sync their payment data effortlessly and reduce manual data entry.
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Flexible Payment Methods:
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Offers multiple payment options, including ACH transfers, debit cards, and credit cards, which gives businesses the flexibility to choose based on their cash flow and payment preferences.
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Automated Bill Capture and Scheduling:
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Melio allows users to automatically capture invoices and set up one-time or recurring payments. This saves time and ensures bills are paid on schedule.
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Security Features:
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Role-based access control and customizable approval workflows help secure financial data and ensure that payments are reviewed before being made.
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Mobile App for On-the-Go Management:
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The Melio mobile app allows users to manage payments, track invoices, and approve transactions from anywhere, offering flexibility for busy business owners.
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Cons of Melio:
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Fees for Credit Card Payments:
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While credit card payments can be convenient, they come with a 2.9% fee, which may not be ideal for businesses that want to avoid higher payment processing costs. This fee can add up, particularly for large transactions.
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Limited International Payment Options:
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Although Melio supports international payments, they are limited to sending payments in USD. This may incur additional currency conversion fees, which could be a disadvantage for businesses paying in foreign currencies.
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No Customization for Larger Enterprises:
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Melio is designed primarily for SMBs, and while it offers great functionality for small businesses, larger enterprises may find the platform too simplistic and lacking advanced features such as multi-currency payments or complex invoice management systems.
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Reliance on ACH and Credit Cards:
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While ACH transfers are free, they can take a few days to process, which may not be fast enough for businesses needing immediate payments. Credit card payments can help speed up the process but come with the aforementioned fee.
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Limited Vendor Support for Non-U.S. Markets:
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Although Melio supports payments to over 80 countries, businesses outside the U.S. may find it harder to use the platform due to limitations in vendor network support or the need to convert funds to USD.
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Not Suitable for High-Volume, Complex Transactions:
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For businesses dealing with high-volume, complex transactions, Melio’s simplicity could be a drawback. The platform is more geared towards small businesses with relatively straightforward payment needs.
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Conclusion:
Melio is an excellent choice for small and medium-sized businesses that need a simple, cost-effective way to manage their accounts payable and improve cash flow. Its seamless integrations with accounting software, user-friendly interface, and flexible payment options make it an attractive solution for SMBs. However, it may not be the best option for larger businesses or those with complex international payment needs due to its fee structure and limited customization options.
Overall, for SMBs looking for a straightforward, affordable way to manage vendor payments, Melio provides a powerful tool to streamline financial operations while keeping costs low.
CA Tushar Makkar
