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Melio to integrate payments platform with Capital One Business

FILE PHOTO: The logo and ticker for Capital One are displayed on a screen on the floor of the NYSE in New York

JERUSALEM (Reuters) - Melio, a U.S.-Israeli startup that offers payment tools for small businesses, said on Tuesday it entered into a strategic partnership to integrate its accounts payable platform with Capital One Business.

Terms of the deal were not disclosed but Melio -- headquartered in New York with its research and development centre in Israel -- said it was a multi-year strategic partnership.

The agreement will enable Capital One small business cardholders to pay their vendors with a card, even if they do not accept credit cards, directly from their Capital One Business account.

Last June, the two companies forged 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 funding round last year with a strategic investment.

(This story refiles to clarify that Melio is U.S.-Israeli)

(Reporting by Steven Scheer)