Capital One Business and Melio Launch Fully Integrated Accounts Payable Solution for Small Businesses

Capital One Business Cardholders Will Be Able to Pay Vendors From Their Capital One Business Account – Even Where Credit Cards Are Not Accepted

NEW YORK, July 12, 2022 /PRNewswire/ -- Melio, a leading B2B payments platform for small businesses, today announced the launch of a fully integrated accounts payable solution with Capital One Business. This strategic partnership will enable Capital One small business cardholders to pay their vendors and suppliers with a card  – even if they do not accept credit cards – directly from their Capital One Business account.  

Small businesses across the country continue to use time-consuming and costly methods to pay their vendors, with many still manually writing and mailing checks. Melio's payments technology for small businesses enables credit cards to be accepted everywhere, saving businesses valuable time and money that would otherwise be spent mailing checks or managing wire transfers.

Through this multi-year strategic partnership, Capital One Business cardholders will have access to more flexible payment options and streamlined workflows from their Capital One Business account, enabling them to better manage their cash flow while also earning unlimited rewards and cash-back on purchases.

"At Capital One, we recognize the power that adoption of payments technology can generate for businesses. In fact, a recent Capital One survey found that more than a third of small and mid-sized business leaders cite investing in automated, real-time, or fully integrated payables as a top priority over the next year," said Rebecca Silver, vice president, small business card at Capital One. "Through our partnership with the innovative team at Melio, we are proud to deliver this capability to our customers and continue to help transform how they do business."

"We are delighted to expand on our strategic partnership with Capital One to increase access to cash management tools for small businesses, especially at a time when cash flow is so critical," said Matan Bar, Melio's co-founder and CEO. "Melio and Capital One share a common passion for helping small businesses succeed, and we are excited to have been selected as the default embedded accounts payable solution for Capital One Business cardholders."

Last June, the two companies announced the creation of a strategic partnership to equip a segment of Capital One Business customers with increased access to accounts payable cash flow management tools for small businesses. Capital One Ventures – the financial institution's corporate venture capital arm – also joined Melio's Series C funding round last year with a strategic investment.

Melio's mission is to keep small business in business, helping them improve their cash flow and workflow, gain more control over their finances, and optimize their business's financial health. Melio was founded by CEO Matan Bar, CTO Ilan Atias, and Ziv Paz in 2018, with headquarters in New York, an R&D center in Tel Aviv, and western U.S. headquarters in Colorado. The company has raised $506 million to date. Melio's smart B2B online payment solution is tailor-made for small businesses' needs. It is a free, simple, and secure solution that allows small businesses and their suppliers to transfer and receive payments quickly and easily.

Capital One® offers a broad spectrum of financial products and services to consumers, small businesses, and commercial clients. Capital One Business offers a diverse suite of financial products, tools, and services designed specifically for small businesses, including credit cards with unlimited rewards and banking products and services. Capital One Business is committed to fueling the courageous entrepreneurial spirit that's at the heart of American small businesses. We are focused on listening to and learning from the millions of businesses we serve every day to make sure our products, services, and experiences work as hard as they do.

SOURCE Melio