Marmalade Payments
- Upfront Fee
- 2.5%-4.99% fee per invoice
Summary
Keep your business growing without debt and without waiting for your customers to pay their invoices.
3 things to consider about Marmalade Payments:
- You choose which invoices get paid early, any time before they’re due
- Your funds land within 2-4 hours of clicking “cash-in
- Because it’s not a loan, it does not affect your credit score
Pros
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No need to wait for customers to pay your invoice to receive the cash
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Connects to your accounting software
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Receive the funds within 2-4 hours of choosing the invoice you want paid
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Does not affect your credit score
Cons
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A fee of 2.5%–4.99% applies to each invoice you cash in
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Fee depends on your customer's star rating
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Only works with Xero, QuickBooks or MYOB
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Your limit depends on the invoices you issue
Details
Product details
| Product Name | Marmalade Payments |
| Max. Loan Amount | No maximum amount |
| Loan Security | Unsecured |
| Upfront Fee | 2.5%-4.99% fee per invoice |
How does Marmalade Payments work?
Marmalade connects to your Xero, MYOB or QuickBooks account. Once you're set up, Marmalade creates a dedicated account for your customers to pay into, and you add these bank details to your invoices. You can then choose any eligible invoice you'd like paid early and cash it in. Marmalade pays the invoice amount into your account within a few hours, minus a one-off fee of 2.50% to 4.99%, based on your customer's rating. Your customer still pays by the original due date, into the dedicated account. Because you're not borrowing, there's no interest and no debt added to your balance sheet.
What can Marmalade Payments be used for?
Marmalade Payments can be used for businesses that need consistent, ongoing cash flow to grow over the next year. It cannot be used for businesses that need one-off amounts of cash.
How to apply:
Click the button below to get started with Marmalade. A Marmalade sales representative will then reach out to check your business against Marmalade's eligibility criteria. If your business qualifies, Marmalade will help you begin setting up your account.
Features of Marmalade Payments:
- Get paid early. Receive funds within 2-4 hours of cashing in an eligible invoice, rather than waiting for your customers to pay.
- Access to accounts. Marmalade is connected to your account-keeping service so you can just select the invoice you want paid out early.
- No credit risk. Because Marmalade takes on the credit risk of your customer, there's no risk to your own credit.
- No chasing invoices. Marmalade will handle chasing up your customers for cashed-in invoices.
- Online system. You can use the online interface to stay on top of your invoices and the cash that's moving through your business.
- Fees. A one-off fee of 2.50% to 4.99% applies to each invoice cashed in, depending on the payer's star rating, which reflects their risk of non-payment.
How much does Marmalade Payments cost?
Marmalade Payments charges a one-off fee of 2.5% to 4.99% per invoice, depending on the payer's star rating, which reflects their risk of non-payment. The fee is deducted from the invoice amount, and the remaining balance is paid to you.
Eligibility criteria:
- You must use Xero, MYOB or QuickBooks for all invoices. You must have done so for the past 90 days.
- When you issue an invoice, it must be due and payable, not requiring any further customer approval.
- You must provide payment terms to your customers of up to 60 days.
- You mostly invoice Australian businesses, not individuals.
- You have more than 5 regular customers that you invoice at least monthly.
- You consistently invoice more than $8,000 per month.
- Your maximum invoice can be hundreds of thousands.
- Your customers provide timely remittance advice if they make a bulk invoice payment.
- You add the bank details Marmalade gives you to your invoices so your customers pay into its secure clearing account. You can then choose which invoices you want to cash in early.
Frequently asked questions
Your reviews
Rebecca Finder
Editor, Money
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Rebecca Pike Finder
November 24, 2023
Hi Alice,
As a comparison site we provide information and reviews on loan products but we’re not affiliated with Marmalade itself so I’m unable to pass your details on to anyone. The only contact details I have for the company is through their Contact Us page here: https://www.withmarmalade.com.au/contact
I’m sorry you’ve been unable to speak to anyone so far, but I hope you can get in touch with someone soon.
Rebecca
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Brian
June 30, 2023
When a cash-in request is made for a specific invoice/s, is the full amount of the invoice paid to us by Marmalade and thereafter a separate collecton fee charged of between 3-5%, or is the collection fee offset against the invoice value with the net amount being remitted ?
Sarah Megginson Finder
July 03, 2023
Hi Brian,
The collection fee is taken out of the invoice amount, and you’re paid the remainder.
For instance, if the invoice amount is $1000 and the cash-out fee is 5%, you’ll be paid $950.
Hope this helps!
Alice
November 24, 2023
Hi Rebecca,
I have been trying to reach out to your team via phone call but nobody is getting back to me.
Could you please kindly provide me with a contact i could call to speak to one of your customer service manager? or give me a call directly 0 417 450 914
Kind Regards,
Alice
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