For small business owners, finding an efficient bill payment solutions program can be time-consuming and unnecessarily expensive. No one knows this better than our next guest, Matan Bar, co-founder and CEO of Melio, a digital payment solutions company designed to help small businesses streamline their bill payment process.
After his tenure as the Head of PayPal’s Consumer Product Center and Global P2P Payments, Matan decided to launch his own company in June 2018. Now, with offices in New York City and Tel Aviv, Israel, Melio is integrating into more markets as it continues to help its clients succeed by saving time and improving cash flow.
During our discussion with Matan, we first took a closer look at his background in finance and technology, and how that ultimately inspired him to create Melio Payments. During his initial research into how small business owners transact and pay bills, Matan realized that businesses are still heavily relying on paper checks to do business.
Right now, there are $18 trillion dollars currently being transferred through paper checks, and the team at Melio created a tailor-made experience for businesses to address their bill payment needs. The platform is a free accounts payable system for small businesses. The way it works is very user-friendly and simple. Businesses just add a bill to their account either through a QuickBooks integration or by simply snapping a picture of it. The bill details are then stored for quick access in the platform, and the business owner is able to schedule a payment. Even if your vendor only accepts a check, Melio allows you to pay with a bank transfer, debit, or credit card.
By using Melio, small businesses are able to streamline their cash flow, save time, and reduce their reliance on older, less efficient payment methods in a completely secure way. To find out more about Matan and Melio, be sure to watch our entire interview above.
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This has been a JBF Business Media production.