Shopify has introduced a new direct bill payments feature, allowing merchants to manage and pay vendors directly in the platform’s admin dashboard.
The company said that Shopify Bill Pay, which is powered by Melio, will save merchants several hours a month by streamlining the process of paying business bills.
Among the key benefits of the service merchants can easily schedule, pay, and manage B2B payment through a dedicated bill pay dashboard, Shopify said. There is also a preferred payment method selection such as pay with credit, even if the vendor doesn’t accept it. The company said the embedded feature is two times faster than other B2B expense solutions.
“Over the last few years, we’ve built out a robust offering of embedded fintech solutions that empower our merchants to build and sell their products,” said Shruti Patel, Global Head of Merchant Services Partnerships and Monetization at Shopify.
She added, “Through our partnership with Melio, Shopify Bill Pay will give merchants more time to invest back into their business and brings us one step closer to advancing our mission of making commerce better for everyone.”
Shopify Bill Pay has also been integrated into Shopify Balance so merchants can pay bills with their Shopify Balance accounts or ACH transfers without subscription or sign up fees. It is the latest addition to Shopify’s suite of financial solutions for merchants. In February, Clik2pay announced a new application which allows Shopify stores to offer a direct-from-account payment option to customers.
Matan Bar, Melio’s co-founder and CEO, added: “We are excited to announce this unique partnership with Shopify that will simplify merchants’ bill-paying experience. Shopify Bill Pay will bring a whole new experience to merchants who are overwhelmed by managing their inventories, preparing their stock for busy seasons, and keeping track of each vendor’s payment requirements.”
