<ul data-eligibleForWebStory="true"><li>Xero, a New Zealand-based small business platform, is acquiring Melio for $2.5 billion.</li><li>The deal will give Xero access to Melio's SMB bill pay platform, enhancing accounting and payment services.</li><li>Xero CEO stated that this acquisition will help improve cash flow management for U.S. SMBs and accountants.</li><li>The partnership between Xero and Melio aims to address crucial needs in accounting and payments for American SMBs.</li><li>The U.S. SMB payment market is estimated at $29 billion, driven by digitization and demand for software solutions.</li><li>Many businesses still rely on outdated payment methods and manual AP systems, facing challenges like paper checks.</li><li>Research shows that most businesses have not automated supplier payments, leading to data entry errors and process delays.</li><li>Late payments for small businesses remain a problem, with an average delay of 9.1 days, impacting financial stability.</li><li>The acquisition aligns with the push for advanced payment methods to enhance financial operations for smaller firms.</li><li>The news about Xero acquiring Melio was shared on PYMNTS.com.</li></ul>

Xero Acquires B2B Bill Pay Platform Melio for $2.5 Billion

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