Melio bill payment service (Plastiq-like service)


Plastiq has a new competitor on the market in bill-payment service Melio. I have no direct experience with this service, but Doctor of Credit reported some of the details the other day and it looks like it might be a good alternative to Plastiq (and might be another option to have on board for 2019 tax payments).  Unlike Plastiq, Melio exclusively services small businesses, not consumers.

The Deal

  • Melio is a new bill payment service that allows businesses to pay certain bills/vendors via credit card for a 2.5% fee
  • Direct link to Melio

Basic info

  • Unlike Plastiq, this service is exclusively for small businesses
  • Businesses may pay vendors with a credit card for a 2.5% fee
  • Supports Amex, Visa, Mastercard, Diners and Discover
  • Can schedule future payments
  • Payments by check are delivered in 3 to 5 business days
  • Payments by bank transfer arrive in 1 to 3 business days
  • Supports paying taxes
  • No fee for debit card payments

Quick Thoughts

I haven’t used Melio myself, but it’s good to see a competitor on the market for Plastiq. Personally, I’ve been very happy with Plastiq thus far, and Plastiq has run many promotions over the years offering chances for reduced fees or fee-free dollars. Hopefully, Melio will run similar things to drum up business. One strength Melio offers is no fee for debit card payments, though a number of data points at Doctor of Credit indicate that gift cards do not process as debit.

Another potential advantage could be payments on Visa cards. Last year, some personal Visa cards began incurring cash advance fees when making payments through Plastiq. Melio doesn’t list any restrictions on the types of cards businesses can use, so it is possible that it’ll be good for using personal Visa cards.

Overall, good to see a new player on the market. Hopefully there will be more good news to come.

H/T: Doctor of Credit

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