Melio and Plastiq are two names often heard in the world of digital payments, each offering its own set of features and advantages. While Melio is best suited for businesses needing to manage their accounts payable and streamline the process of paying vendors and suppliers, Plastiq is especially valuable for businesses looking to earn credit card rewards or manage cash flow by deferring payments. When choosing between Melio vs Plastiq, it is important to consider your specific payment needs and the fees associated with each platform.
- Melio: Optimal for businesses looking for free bill-pay and invoicing software
- Plastiq: Ideal for businesses seeking flexibility with payment options, including short-term financing
Melio vs Plastiq At-a-Glance Comparison
 |  | |
|---|---|---|
Monthly Platform Fee | $0 |
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Distinctive Features |
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Approval Workflows | ✓ | ✓ |
Manage Bills | ✓ | Coming soon |
Customizable Account Permissions | ✕ | ✓ |
Compatible with American Express | ✓ | ✕ |
OCR for Bill Scanning | ✓ | ✕ |
Batch Payments | ✓ | ✓ |
Mobile App | iOS | iOS and Android |
Payment in Multiple Currencies | ✕ | ✓ |
Vendor Portal | ✕ | ✕ |
Short-term financing | ✓ | ✓ |
For More Information |
When To Use
Melio vs Plastiq: Pricing (Melio Wins)
Melio | Plastiq | |
|---|---|---|
Monthly Platform Fee | $0 | To send money:
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Number of Users | Unlimited | 3 to unlimited |
ePayment/Automated Clearing House (ACH) Transaction Fees | $0 | $0 |
Check Mailing Fee | $1.50 per check payment (first two checks per month are free) | $0 |
Invoice Mailing Fee | N/A | N/A |
Payment by Debit or Credit Card | 2.9% of payment (applies to payer) | 2.9% |
International Wire Transfer (Local Currency) | N/A | 2.9% plus 1% cross-border fee and $39 bank and handling fees |
International Wire Transfer (USD) | $20 flat fee or 2.9% when paying with card | 2.9% plus 1% cross-border fee and $39 bank and handling fees |
Short-term Financing Rates | N/A | 2.7% to 10.65% transaction fee |
Faster ACH Payments | 1% of payment (up to $30) for same-day delivery | 2.9% plus 0.5% base fee plus $5 bank fee plus $10 handling fee |
Faster Check Payments | $20 flat fee within three business days | 2.9% plus 0.5% base fee plus $24.95 FedEx Priority Overnight fee plus $10 handling fee |
Free Trial | N/A | 60 days (PlastiqPay Pro and Enterprise; PlastiqAccept Pro) |
For More Information |
When it comes to pricing, we selected Melio as the winner because of its $0 monthly fee that doesn’t set limitations of available features like Plastiq does. Both Melio and Plastiq charge $1.50 to mail out checks. However, both don’t charge ACH transaction fees and both charge a 2.9% fee for payment by debit and credit card.
Melio allows you to send international wire transfers in USD, but Plastiq lets you send international wire transfers in both USD and domestic currencies. However, Plastiq’s fees for international wire transfers are much more than Melio’s. You can also pay to expedite payments with both providers, but Plastiq’s fees are much higher.
While it may seem that Plastiq’s short-term financing is a good option, keep in mind that its rates are very expensive—a 2.7% to 10.65% transaction fee for a period of only 30 to 90 days. It is not totally clear how these rates are determined, but it is likely a combination of the length of the term and the quality of your credit score.
Melio vs Plastiq: Features (Plastiq Wins)
Melio | Plastiq | |
|---|---|---|
A/P & A/R Features | ✓ | ✓ |
Compatible Accounting Software | QuickBooks Online, Xero, FreshBooks, and Business Central | QuickBooks Online, Xero, NetSuite, and Sage Intacct |
Mobile App | iOS | iOS and Android |
Batch Payments | ✓ | ✓ |
International Payments | ✓ | ✓ |
Approval Workflows | ✓ | ✓ |
Vendor Management | ✓ | ✓ |
Pay Vendor With Credit Card | ✓ | ✓ |
Autocapture Receipts & Bills | ✓ | ✕ |
Compatible With American Express | ✓ | ✕ |
OCR for Bill Importing | ✓ | ✕ |
Customizable Account Permissions | ✕ | ✓ |
Payment in Multiple Currencies | ✕ | ✓ |
Dashboard & Insights | ✕ | ✓ |
Audit Trails | ✕ | ✕ |
Both Melio and Plastiq offer several useful features, including the ability to make batch and international payments, set up approval workflows, manage vendors, pay vendors with a credit card, and access to short-term financing to pay bills. However, Plastiq is the clear winner of this category because it lets you make payments in multiple currencies, customize account permissions, and access business insights on its dashboard. Melio offers features that Plastiq lacks, though, such as the ability to autocapture receipts and bills and its compatibility with American Express.
Melio vs Plastiq: Accounts Payable (Melio Wins)
Melio | Plastiq | |
|---|---|---|
Bill Approvals | ✓ | ✓ |
Recurring Bills | ✓ | ✓ |
1099 Payment Tracking | ✓ | ✕ |
Automatic Bill Capture | ✓ | ✕ |
Intelligent Virtual Assistant | ✕ | ✕ |
Melio and Plastiq both offer strong A/P features, including bill approvals and recurring bills, but Melio also lets you track 1099 payments and produce an exportable report from your dashboard. You can also capture bills automatically with Melio. Neither Melio nor Plastiq offers an intelligent virtual assistant.
Melio vs Plastiq: Accounts Receivable (Melio Wins)
Melio | Plastiq | |
|---|---|---|
Send Payment Requests | ✓ | ✓ |
Create & Send Invoices | ✓ | ✕ |
Add Logo to Invoice | ✓ | ✕ |
Recurring Invoices | ✓ | ✕ |
Sales Tax Tracking | ✕ | ✕ |
Invoice Customization | ✕ | ✕ |
Plastiq’s A/R features are very limited—you can send payment requests but not invoices. Melio doesn’t let you customize your invoices except in the form of uploading a logo. You can also set up recurring invoices with Melio, which is why we selected it as the winner in this category. However, neither provider tracks sales tax.
Melio vs Plastiq: Ease of Use (Tie)
Melio | Plastiq | |
|---|---|---|
Overall Ease of Use | Easy | Easy |
Accessibility | Cloud | Cloud |
Online Help Section | ✓ | ✓ |
User-friendly Dashboard | ✓ | ✓ |
We declared a tie in this category because both Melio and Plastiq are easy to use with an intuitive dashboard. You can access an online help section with each provider, which gives you answers to frequently asked questions (FAQs) and help with set-up. Melio’s dashboard is clean and user-friendly, with a similar interface to the mobile version.
Melio’s dashboard on web and mobile app
Plastiq’s user interface (UI) is also straightforward, with buttons that let you easily navigate from one section to another. It allows you to easily identify the status of bill payments, any associated fees, and delivery methods.
Plastiq’s dashboard that shows bill payments
Melio vs Plastiq: Mobile App (Plastiq Wins)
Melio | Plastiq | |
|---|---|---|
Accessibility | iOS | iOS and Android |
Pay Bills | ✓ | ✓ |
Add & Manage Vendors | ✓ | ✓ |
Monitor Cash Flow | ✕ | ✓ |
Bill/Receipt Scanning | ✕ | ✕ |
Invoice Customers | ✕ | ✕ |
Send Estimates & Sales Receipts | ✕ | ✕ |
Melio’s mobile app is available for iOS only, while Plastiq’s app is available for iOS and Android users. You can use both providers’ apps to pay bills and add or manage vendors, but only Plastiq lets you monitor cash flow. Both mobile apps lack the ability to scan bills and receipts, invoice customers, and send estimates or sales receipts. Despite that, we selected Plastiq as the winner in this category.
Plastiq vs Melio: Customer Support (Tie)
Melio | Plastiq | |
|---|---|---|
Customer Support Hours | Monday–Friday, 9 a.m. to 8 p.m. Eastern time | N/A |
Email Support | ✓ | ✓ |
Live Chat Support | ✓ | ✓ |
Searchable Knowledge Base | ✓ | ✓ |
Online Help Resources | ✓ | ✓ |
Phone Support | ✕ | ✕ |
Community Support | ✕ | ✕ |
The customer support offerings for Melio and Plastiq are essentially the same, with the exception that Melio provides its hours for customer support and Plastiq does not. You have access to email and live chat support with both providers, but neither offer phone support.
Also, Plastiq requests that you send an email to customer support, and it will get back to you within one business day. A searchable knowledge base and online help resources are also available with both Plastiq and Melio.
Frequently Asked Questions (FAQs)
Yes, Plastiq offers iOS and Android mobile apps. You can make, approve, or reject payments as well as add and manage vendors. The main dashboard lets you monitor cash flow and view upcoming scheduled payments, including the details for each.
Melio doesn’t charge a monthly fee or charge for its ACH transactions. For payment by debit card, it charges a fee of 2.9%, and it charges a $20 flat fee for international wire transfers in US dollars. It doesn’t offer international wire transfers in local currency. Melio also charges a $1.50 mailing fee per check payment, but the first two per month are free.
Yes, Plastiq lets you pre-qualify for short-term financing, which is powered by Slope. Payment terms are available in 30-, 60-, and 90-day installments, the transaction fees range from 2.7% to 10.65%, and you can choose whether to pay back the loan in full or in regular installments.
It normally takes around one to three business days to process payments with Melio.
Bottom Line
Both Melio and Plastiq offer valuable solutions for managing payments and bills, catering to different needs. Melio is an excellent choice for small businesses looking to streamline their domestic payment processes, with features designed to simplify vendor management. Meanwhile, Plastiq specializes in enabling credit card payments for a wide range of bills, offering flexibility to businesses. The choice between Plastiq vs Melio ultimately depends on your specific payment requirements and preferences.
