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Shopify Adds Melio’s B2B Embedded Finance Offering to Commerce Platform

Shopify has announced the addition of Melio’s built-in financial offer for B2B to its trading platform.

Shopify Adds Melio’s B2B Embedded Finance Offering to Commerce Platform

Source: Pixabay.com

Shopify Bill Pay is an integrated Bill Payment (AP) solution. This solution allows sellers to pay bills from suppliers and contractors and manage them through the same Shopify administrator they use to run their business. This is stated in a press release that was published last Monday, April 24, on the occasion of the addition of a built-in financial offer to the trading platform.

Shruti Patel, global head of partnerships and monetization of shopping services at Shopify, says that the company strives to make commerce better for users of all categories. In the context of this aspiration, the firm has established a partnership with Melio so that the trading platform provides for the possibility of paying bills and the resources of sellers are freed up, who can now focus more on doing business.

The research results indicate that commercial companies are currently interested in having the opportunity to offer customers online payment methods, tools, and channels in the B2B space. These intentions can be realized with the help of built-in finance.

The active development of financial infrastructure in the virtual space and the reorientation of firms’ attention to this area of action is partly because more and more millennials and representatives of Generation Z are making transactions and making purchasing decisions. Merchants strive to make their B2B ecosystems as customer-oriented as possible.

With Shopify Bill Pay, sellers can specify both the method they use to pay bills and the method the supplier receives payment. It is possible to make a transaction using a credit card, bank, or wire transfer. In this case, the seller receives the payment by check, bank, or wire transfer.

Melio supports payments in 100 countries. Shopify sellers can use the new built-in financial offer to pay bills both in the US and abroad.

Shopify Bill Pay will provide a new experience to sellers who are overloaded with cash flow and inventory management. This is stated in a press release by Melio CEO and co-founder Matan Barak.

As we have reported earlier, Shopify Introduces Commerce Components.

Serhii Mikhailov

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Serhii’s track record of study and work spans six years at the Faculty of Philology and eight years in the media, during which he has developed a deep understanding of various aspects of the industry and honed his writing skills; his areas of expertise include fintech, payments, cryptocurrency, and financial services, and he is constantly keeping a close eye on the latest developments and innovations in these fields, as he believes that they will have a significant impact on the future direction of the economy as a whole.