Shopify taps B2B payments platform Melio for bill pay solution
Shopify has tapped US-based B2B payments platform Melio to launch Shopify Bill Pay, an accounts payable solution that will allow Shopify merchants to pay and manage their bills.
Through the new solution merchants operating on Shopify will be able to pay bills via credit, bank or wire transfer, as well as choose how their vendors will receive payments separately (by check, bank or wire transfer), without having to leave the Shopify platform.
With Melio supporting payments to 100 countries, merchants will be able to pay invoices “for everything” including inventory, shipping and advertising, both within the US and abroad.
Both firms claim that Shopify Bill Pay saves merchants an average of 16 hours a month on paying bills, claiming it to be “2x faster” than other B2B expense management solutions. The solution also integrates into Shopify Balance, Shopify’s free business account, with no subscription or sign-up fees.
Matan Bar, Melio’s CEO and co-founder, says Shopify Bill Pay 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”.