B2B payments platform Melio has announced the launch of a fully integrated accounts payable solution with Capital One Business.
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This strategic partnership aims to 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.
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.
"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.
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.
