Fiserv And Melio Partner To Streamline Accounts Payable And Receivable For Small Businesses

Fiserv, Inc. (NYSE: FI), a major global provider of payment and financial services technology solutions, has formed a strategic alliance with Melio, a leading B2B payments platform. The alliance intends to improve financial institutions' ability to handle the payment needs of small enterprises. They have announced a new service known as CashFlow CentralSM, exclusively through Melio, which integrates Melio's user-friendly accounts payable and receivable workflows with Fiserv's comprehensive biller and merchant network and payment capabilities.

CashFlow Central is intended to equip financial institutions with the tools they need to compete effectively in the small company category and reclaim market share from direct-to-business competitors. It meets the entire range of payment and invoicing requirements for small enterprises. This service is offered to Fiserv's financial institution clients, which now comprise over 3,500 institutions that use Fiserv's CheckFree® for bill payment. CashFlow Central leverages these financial institutions' current consumer and merchant payment platforms, allowing for a faster time-to-market, reducing back-office processes, and assuring a smooth transition for small business customers.

Historically, small businesses' payment needs have been unmet, with many relying on manual and paper-based processes.

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