In today’s digital world, small businesses need better ways to handle payments. Melio is a digital payment platform that changes the game. It offers features that make paying vendors easier for small businesses.
Melio has a free payment app that helps businesses manage their payments well. It has many features like approval workflows and flexible bill capture. It also works well with accounting software. Melio wants to make digital payments easy for all businesses.
Melio’s pricing is great for small businesses. It offers free ACH bank transfers and charges a small fee for card payments. Same-day bank transfers cost a bit more, and international USD transfers have a $20 fee. But, there’s no monthly fee, which is a big plus for businesses that use bank transfers a lot.
Key Takeaways
- Free ACH bank transfers with a small fee for card payments
- No monthly subscription fee
- Seamless integration with popular accounting software
- Trusted by major companies and investors with over $500 million in funding
- Exclusive $100 cashback offer for new sign-ups
What is Melio Payments?
Melio is a new B2B payment platform for all business sizes. It makes online payments easy and helps manage cash flow better. It has many features to improve the payment process.
Melio uses the strong AWS infrastructure. It lets businesses pay and get paid online, even if the other side doesn’t use digital payments. This makes it great for businesses with vendors in over 80 countries.
Simplifying B2B Payments for Businesses
Melio’s platform is easy to use and makes B2B payments simple. It works with popular accounting software like QuickBooks. This means all payments are synced automatically, saving time and reducing errors.
With Melio, businesses can automate bill capture and create custom invoices. They can also track payments in real-time. These features help save time and give insights into cash flow, helping with financial decisions.
Melio’s Payment Platform Features
Melio’s payment platform has many features to make B2B transactions smoother:
- Accounts Payable and Receivable Management
- Approval Workflows for Enhanced Collaboration
- Flexible Bill Capture and Invoice Customization
- International Payments to Over 80 Countries
- Integration with Popular Accounting Software
- Real-Time Payment Tracking and Reporting
Melio has a Trustpilot rating of 4.4 out of 5 from many user reviews. It’s known for its great customer service, easy-to-use interface, and making complex payments simple.
Benefits of Using Melio for Payments
Melio helps businesses manage their payments better. It’s easy to use and has great features. It’s perfect for small businesses and freelancers.
Accounting Software Integration
Melio works well with popular accounting software like QuickBooks and Xero. This accounting software sync makes managing payments easy. It keeps your financial records accurate and saves time by avoiding errors.
Combining and Splitting Payments
Melio lets you bundle invoices into one payment or split them. This is great for controlling cash flow. It helps businesses manage their money better and stay financially stable.
Approval Workflows for Team Collaboration
Melio makes team work better with its approval workflows. You can set up roles and permissions for team members. This way, payments are approved by the right people. It helps keep finances in order while promoting teamwork.
“Melio has changed how we handle payments. It works well with our accounting software and helps us manage cash flow better.” – Sarah Johnson, Small Business Owner
Melio makes payment processes smoother. It improves teamwork and cash flow control. Its easy-to-use design and strong security make it a top choice for small businesses and freelancers.
Types of Payments Supported by Melio
Melio is a flexible payment platform for small businesses. It supports B2B invoices, rent payments, utility bills, SaaS tools, and inventory payments. This makes it easy for businesses to manage their payments and keep their vendors and suppliers happy.
Melio offers a range of payment options. You can pay invoices by bank transfer for free or use a credit card for a 2.9% fee. It also accepts American Express, Mastercard, Visa, Discover, and Diners. This gives businesses many ways to handle their finances.
Melio replaces old payment methods like snail mail and paper invoices. This makes transactions faster. It’s great for businesses that need to make quick payments, like rent, utilities, and inventory.
| Payment Type | Supported by Melio | Fee |
|---|---|---|
| Bank Transfers (ACH) | Yes | Free |
| Credit Card Payments | Yes | 2.9% |
| Paper Checks | Yes | $1.50 per check after first 2 free checks/month |
| Personal Bills | No | Not Applicable |
| Payroll Transactions (except for contracted or freelance employees) | No | Not Applicable |
Melio supports many business payments but has some limits. It doesn’t handle personal payments, payroll for regular employees, cash advances, balance transfers, or Visa payments for mortgages.
By linking Melio with accounting software like monday.com, businesses can make their workflow even smoother. This improves how they manage projects and work together as a team.
Businesses that Benefit from Melio
Melio’s payment platform is great for many businesses. It’s especially popular with small businesses, freelancers, accountants, and bookkeepers. It makes small business payments and freelancer invoicing easier. This helps these businesses manage their money better and pay their vendors on time.
Small Businesses and Freelancers
Melio is a big help for small businesses and freelancers. It makes managing payments and invoices simple. Its easy-to-use design and connection with accounting software help businesses keep track of their money. With Melio, small businesses can:
- Schedule and automate payments to vendors
- Track payment status and history
- Manage cash flow more effectively
- Simplify client payment management
Accountants and Bookkeepers
Melio is also great for accountants and bookkeepers. It helps them manage finances for many clients better. Accountants and bookkeepers can offer more value to their clients with Melio. Some key benefits include:
| Feature | Benefit |
|---|---|
| Client payment tracking | Easily monitor and manage client payments in one place |
| Team member collaboration | Add team members and assign roles for efficient workflow |
| Customizable approval processes | Set up approval workflows tailored to each client’s needs |
“Melio has revolutionized the way we manage our clients’ payments. It’s saved us countless hours and helped us provide better service.”
Whether you run a small business, freelance, or work in finance, Melio is a smart choice. Its strong features and easy-to-use design make it perfect for improving your payment and financial management.
Melio Pricing and Fees
Melio is a free payment platform for businesses. It has no monthly subscription fees. This is great for small businesses wanting to save money while making payments easier.
- ACH transfers are free, which is good for businesses that mostly use bank transfers.
- Credit card processing costs 2.9%, which is standard in the industry.
- Same-day bank transfers cost 1%, offering a quick payment option for a bit more.
- International USD transfers have a flat $20 fee, making cross-border payments easy with Melio.
Free ACH Bank Transfers
Melio’s best feature is free ACH transfers. This is great for businesses that mostly use bank transfers. It saves money and keeps budgets lean.
Credit Card Payment Fees
For those who like the ease of credit card processing, Melio charges 2.9%. This fee is competitive, so businesses can accept credit cards without breaking the bank.
| Payment Method | Transaction Fee |
|---|---|
| ACH Bank Transfer | Free |
| Credit Card Payment | 2.9% |
| Same-Day Bank Transfer | 1% |
| International USD Transfer | $20 flat fee |
Melio offers a free payment platform with good transaction fees for ACH transfers and credit card processing. It’s a smart choice for businesses wanting to make B2B payments easier and cheaper.
Melio Sign-Up Offer for FounderPass Members
FounderPass members get a special deal when they join Melio, a top B2B payment solution. By using the FounderPass link, they get a $100 cashback after their first payment of $200 or more with Melio Pay.
This deal is for all FounderPass members, even those with the free Basic Membership. Melio’s bonus is like many other companies’ offers to get new customers to use their services. To get the cashback, just follow these steps:
- Sign up for Melio using the FounderPass exclusive offer link.
- Make a successful payment of at least $200 through Melio Pay.
- Receive the $100 cashback incentive in your account.
To get the cashback, Melio Core and Boost users must keep using Melio after the 30-day free trial. Melio Go users need to make $2,000 in transactions to qualify for the $100 cashback.
FounderPass has many deals and discounts, with over $2,500,000 in savings for members. The platform has a high rating of 4.7, with many positive reviews from buyers. They love the value and quality of the offers.
| Rating Category | Score |
|---|---|
| Customer Service | 4.6 |
| Return Policy | 4.5 |
| Price & Quality | 4.3 |
| Shipping & Delivery | 4.4 |
| Good Value | 4.0 |
By using the Melio sign-up bonus through FounderPass, small businesses and freelancers can make B2B payments easier. They also get a cashback that helps with initial costs. This offer combines Melio’s payment platform with the benefits of being a FounderPass member.
How Melio Generates Revenue
Melio is a top B2B payment solution with a unique business model. It offers a free platform to small businesses. Yet, it still makes good money. This is thanks to transaction fees from credit card payments.
Even though Melio offers free ACH bank transfers, many users like the ease of credit card payments. This convenience comes with a 2.9% transaction fee on each credit card payment.
This fee helps Melio keep a steady revenue generation flow. It also offers great value to its users. Melio balances free and paid services well. This makes it a great choice for businesses wanting to simplify payments without high costs.
Here’s a breakdown of Melio’s fee structure:
| Transaction Type | Fee |
|---|---|
| Credit Card Transactions | 2.9% |
| International Transactions | $20 flat fee |
| Mailed Checks | $1.50 |
| Fast Checks | $20 flat fee |
| Same-day ACH Transfers | 1% fee (up to $30) |
Melio’s innovative business model has allowed us to provide a valuable service to small businesses while maintaining a sustainable revenue stream. By offering a mix of free and paid features, we can continue to invest in our platform and deliver the best possible experience for our users.
Melio’s smart business model and focus on customer value set it up for success. It’s poised to keep growing and lead in the B2B payment field.
Melio’s Integration with QuickBooks
Melio makes QuickBooks integration easy, helping users manage their cash flow better. It simplifies payment syncing, saving time and reducing errors.
QuickBooks is introducing ‘Bill Pay powered by Melio.’ It checks if vendors or suppliers use this feature. This makes paying bills easier for businesses.
| Feature | Melio | QuickBooks Bill Pay |
|---|---|---|
| Monthly Platform Fee | $0 | $90 (unlimited payments) |
| Number of Users | Unlimited | 1-25 (depending on plan) |
| ACH Transaction Fee | $0 | 5 free per month (Basic plan) |
| Credit Card Payment Fee | 0% | 2.9% |
Melio stands out from QuickBooks Bill Pay with features like automated bill creation and batch payments. It also has customizable permissions and approval workflows. Plus, Melio doesn’t charge platform fees, making it a cost-effective choice for businesses.
Users love Melio for its smooth integration with QuickBooks Online (QBO). It saves a lot of time by managing finances in one place. Melio has a 4.7 out of 5 rating from 27 reviews, praised for its ease, customer service, and value.
Melio seamlessly integrates with QuickBooks Online (QBO), saving users significant time in bookkeeping by managing all finances from one platform.
Despite some minor issues, like creating new vendors in QuickBooks, the benefits of Melio far outweigh these. It’s known for its efficiency and cost-effectiveness.
Melio Mobile App for iOS Users
Melio has launched a mobile app for iPhone users. It’s available on the App Store. This iPhone app makes mobile payments simple. Users can pay vendors via ACH, card, or check, saving up to 50% of bill payment time.
There’s no dedicated Android app, but the Melio website works well on Android browsers. This means businesses can manage payments on the go, no matter their device.
The app prioritizes security with strong encryption. Users can pick their payment method, with a 2.9% fee for credit card payments. It’s known for no hidden fees and free ACH payments.
| Pricing Plan | Monthly Cost | Features |
|---|---|---|
| Core | $25 | Basic payment management |
| Boost | $55 | Advanced features and integrations |
Melio offers a free app version. It lets users add unlimited users and sync with QuickBooks Online for AP and AR. Plus, it allows batch payments at no cost. It’s a top choice for businesses wanting to simplify their finances.
Melio’s Business Payment App is a game-changer for small businesses. It has simplified our payment processes and saved us countless hours.
International Payments with Melio
Melio makes it easy for businesses to send money to vendors worldwide. Its platform is simple to use, so you can pay suppliers abroad without them needing a Melio account. This saves time and makes managing payments easier.
Melio’s fees are clear and fair. They charge a flat $20 fee for every international payment, no matter the amount. This helps businesses plan their budgets better and avoid surprise costs.
Streamlined Cross-Border Transactions
Melio’s platform makes international payments simple. You can start transactions right from your dashboard. This means no more juggling multiple systems or complicated steps.
With Melio, businesses can work with vendors all over the world. This opens up new chances to find materials, hire talent, and partner with international companies.
Comparative Analysis of International Payment Fees
| Payment Platform | International Payment Fee |
|---|---|
| Melio | $20 flat fee per transaction |
| BILL | $14.99 per international wire transfer |
| QuickBooks Online | Varies based on payment method and currency |
Melio’s $20 flat fee for international payments is clear and competitive. BILL charges $14.99 per wire transfer, but Melio’s fee stays the same, no matter the amount. This can save businesses money, especially if they have different payment sizes.
But, Melio only supports USD for international payments. If you need to send money in other currencies, you might need to look elsewhere or use currency conversion services outside of Melio.
Setting Up Recurring Payments in Melio
Melio makes it easy to set up automated payments for regular transactions with vendors. Its recurring invoices feature lets you schedule payments in advance. This ensures timely and consistent payment processing.
To start a recurring payment, go to your Melio dashboard and pick the vendor you want to pay. Enter the payment amount, how often (weekly or monthly), and when to start. You can also add notes and memos for easier communication and record-keeping.
Melio offers flexible payment scheduling to meet different business needs. Whether you need to pay weekly or monthly, Melio has you covered. Automating payments saves time and reduces the chance of missed or late payments.
Effective vendor management is key for strong business relationships. Melio’s recurring payment feature shows your commitment to timely payments. This builds trust with vendors, leading to better communication, terms, and possible discounts.
Melio works well with popular accounting software like QuickBooks Online and Xero. This integration syncs your payment data automatically, avoiding manual entry and errors. Melio’s partnership with QuickBooks has grown its user base by XX%.
| Payment Method | Fee |
|---|---|
| ACH Bank Transfer | Free |
| Credit Card | 2.9% |
| Same-Day Bank Transfer | 1% |
| International USD Transfer | $20 flat fee |
Melio has competitive pricing for its payment services. ACH bank transfers are free, and credit card transactions cost 2.9%. Same-day bank transfers are 1%, and international USD transfers are $20 flat. Melio’s clear pricing helps businesses choose the best payment methods.
Melio Review: A Comprehensive B2B Payment Solution
Melio has become a top choice for B2B payments. It makes managing money easy and efficient for businesses. With options to customize payments, strong security, and recognition in the industry, Melio has won the trust of big companies and investors.
Melio’s platform lets businesses use their own systems. Melio takes care of the hard stuff like compliance and security. This way, companies can focus on what they do best, while Melio handles the payment details.
Customizable Payment Options
Melio stands out for its flexible payment options. Businesses can pay bills with free bank transfers, debit cards, or credit cards. This is helpful for paying a variety of B2B invoices, such as:
- Goods and services
- Rent and utility bills
- SaaS tools and inventory
This flexibility changes how businesses pay each other. It saves time and boosts cash flow.
Robust Security Measures
Melio puts a big focus on keeping user data and transactions safe. With over $500 million in funding, Melio uses the latest security tech. This ensures that financial information stays protected.
Melio’s dedication to security is clear in its recognition and partnerships. It has an A+ rating from the Better Business Bureau (BBB). This shows it’s reliable and trustworthy.
Trusted by Major Companies and Investors
Melio’s secure payments and new ideas have won over big names in finance. J.P. Morgan, a global bank, has teamed up with Melio. This shows Melio’s credibility and growth potential.
Also, Melio has gotten investments from top firms like Salesforce and American Express. This support from industry leaders makes Melio a trusted B2B payment solution.
| Review Rating | Percentage |
|---|---|
| 5-star | 78% |
| 4-star | 5% |
| 3-star | 2% |
| 2-star | 2% |
| 1-star | 13% |
The table shows most users love Melio, with 78% giving it 5 stars. This high satisfaction rate proves Melio is a great B2B payment solution.
Conclusion
This Melio review highlights it as a top choice for small businesses. It makes paying easier and integrates well with accounting software. This helps businesses manage their money better.
The platform is easy to use and offers flexible payment options. It’s great for freelancers, accountants, and bookkeepers. Melio has no monthly fees and free ACH bank transfers, making it affordable.
It’s also very secure and trusted by big companies and investors. Melio might not have all the features some businesses need. But for those looking for a solid, affordable option, it’s a great pick.
As Melio grows and adds more features, it will become even more important for businesses. It’s set to be a key player in the world of B2B transactions.
FAQ
What is Melio Payments?
Melio is a digital B2B payment platform for small businesses. It makes paying vendors easy with a free app. The app has features like approval workflows and accounting software integrations.
What types of payments does Melio support?
Melio handles many B2B payments. This includes invoices for goods and services, rent, and utility bills. It also covers SaaS subscriptions and inventory purchases. Businesses can pay any other business using bank transfers or checks.
Who can benefit from using Melio for payments?
Melio is great for any business making B2B payments. It’s especially helpful for small businesses, freelancers, accountants, and bookkeepers. It helps manage cash flow and pay vendors efficiently.
How much does Melio cost?
Melio doesn’t charge monthly fees. ACH bank transfers are free. Card payments cost 2.9%. There’s a 1% fee for same-day bank transfers and $20 for international USD transfers.
Is there a special offer for FounderPass members?
Yes, FounderPass members get a $100 cashback. This is after making a payment of at least $200 via Melio Pay. Sign up through a unique link to qualify.
Does Melio integrate with QuickBooks?
Yes, Melio works well with QuickBooks. It lets users sync payments and control cash flow better. QuickBooks is adding a ‘Bill Pay powered by Melio’ feature for easier payments.
Is there a Melio mobile app?
Yes, there’s a Melio mobile app for iPhone users on the App Store. There’s no dedicated Android app, but the website works on Android devices.
Can I make international payments with Melio?
Yes, Melio makes international payments easy. Businesses can pay vendors across borders. The platform charges a flat $20 fee per transaction, no matter the size.
Can I set up recurring payments in Melio?
Yes, Melio lets users set up recurring payments for regular vendors. You can choose the payment amount, frequency, start date, and add notes for reference.
Is Melio a secure payment platform?
Yes, Melio is a secure B2B payment solution. It offers customizable payment options and strong security. Major companies and investors trust Melio, ensuring user data and transactions are safe.
