What is Marmalade?
Marmalade is an invoice payments platform that empowers businesses to take complete control of their cash-flow. Marmalade enables its customers to cost-effectively access their money as soon as they invoice with speed, simplicity and total transparency to deliver operational improvements and accelerated growth.
Marmalade enables you to get paid for your eligible, unpaid invoices. You have the flexibility to manage your cash-flow on your terms, and your customers have a seamless payment experience.
You will never be charged interest or any other fees, you never incur any liability or debt and you are not applying for a loan or line of credit when you sign up to Marmalade.
How does Marmalade work?
After completing the sign-up process, Marmalade will be the default payment method offered to your customers. Your customers will pay their invoices as usual.
The way Marmalade is different is that we also give you the option to get those invoices paid ('cashed-in') whenever you want, without needing to wait for your customers to pay.
By offering Marmalade as your invoice payment method, you create the option to unlock your cash flow whenever you want, without creating debt in your business.
Is Marmalade right for my business?
Any registered business in Australia can sign up with Marmalade if they’re using Xero for invoicing.
However Marmalade will work best for your business if you meet the following criteria:
- You have a consistent, ongoing cash-flow requirement to grow your business over the next 12 months
- You issue more than $50k of invoices per month
- You have more than 5 customers who have received an invoice in the past 30 days
- You have more than 3 months of Xero invoice payment history
- You have an ongoing cash-flow requirement, not an immediate one-off need for capital
- You invoice Australian-based businesses
How do I sign up with Marmalade?
Signing up for a Marmalade account is quick and easy.
- Create your account via our online signup here
- Verify your identity
- Add the Marmalade payment details to your invoices
Our customer service team will guide you through this process once you begin the signup.
How much does Marmalade cost?
If you choose to Cash-in an invoice before your customer has paid it, you will be charged a one-time fee, locked between 2% - 5%. You’ll be clearly informed of that fee, for each invoice, before you cash-in so you can decide which ones to choose.
When your customer pays an invoice with Marmalade you will not be charged anything. Credit cards will be surcharged at 1.75% + $0.30 per transaction.
The only time you pay anything is when you cash-in an invoice. Otherwise, we're completely free!
How is the Cash-in fee calculated?
The Marmalade pricing engine assesses the fee for each invoice individually and considers factors including but not limited to:
- Your customer’s payment history
- The invoice due dates
- Whether or not you are including Marmalade account details on all of your customers’ invoices
- Plus many more
Importantly, we will always aim to provide you with the lowest possible fee we can.
What can I do to reduce the cash-in fee?
As we get to know you and your customers better, your cash-in fees will generally get lower over time. Additionally you can take actions to reduce fees, such as updating your customer's contact information and reminding your customers to pay overdue invoices.
The more invoices you create with Marmalade payment details on them and the more regular payments we see from your customers, the better it is for you.
How much can I cash-in?
Your initial cash-in limit is calculated relative to the size of your business. It is designed to enable usage of the Marmalade product while we get to know each other. As we better understand your cash-in needs over time, your limit will be regularly reviewed to ensure we support your business fully.
The best way to find out how much will be available to you when you first sign up is to immediately connect your Xero account during registration. Your Marmalade Account Manager will then be able to provide you with your initial cash-in limit.
Can I request a higher cash-in limit?
Yes. Cash-in limit increases can be requested via your Account Manager at email@example.com. Although we can't guarantee limit increase requests will be approved, we will do our best to support you if your cash-in needs are higher than your current limit and we determine it is possible to increase that limit. Our team will assess your history with Marmalade, your customer payment behaviour and your business structure and needs in determining any limit increases.
How soon are invoices available to Cash-in?
When you issue a new invoice in Xero, Marmalade will immediately assess that invoice and determine if it’s eligible for cash-in. This usually happens within a few minutes of the invoice being sent to your customer. If the invoice is available for cash-in you’ll see it listed in the Cash-in page of your Marmalade account almost immediately.
How does invoice eligibility work?
When you first start using Marmalade not all of your invoices will be eligible for cash-in. Often, only some of your invoices will initially be eligible for cash-in. The more consistently you use Marmalade across your customers and follow our guidelines below, the more invoices will become eligible for cash-in over time.
In order for you to use Marmalade effectively and ensure invoices are eligible for cash-in, it is important you follow these guidelines for issuing invoices:
- Start issuing your invoices with Marmalade details immediately, as soon as your account is approved
- Include Marmalade details on all of your customers’ invoices. Standard payment processing with Marmalade is free, to make this easier for you. If you only put Marmalade details on a small number of customers’ invoices to begin with, we will only be able to support this for a limited time and you will then need to place Marmalade payment details on all invoices to continue using the service.
- Once you put Marmalade payment details on a customer’s invoices, do not change them again. Make sure every invoice issued to that customer has Marmalade payment details on it.
- Communicate to your customers clearly and consistently.
Why is an invoice not eligible for Cash-in?
Invoices may not be eligible for cash-in for a number of reasons, including but not limited to:
- The invoice was issued without Marmalade payment details
- Your customer did not pay with Marmalade for the last invoice payment
- Your account requires additional verification, including AML/KYC
- The invoice has been priced above the maximum fee threshold and is too expensive to cash-in
- The invoice has already been paid
- The invoice has already been cashed-in
- The invoice amount exceeds your available balance
How does Marmalade ensure invoices get paid after they’ve been cashed-in?
Marmalade sends regular statements to your customers reminding them of any outstanding payments. Sometimes we will contact a customer directly if an invoice is extremely overdue or if there is a pending dispute. You always have visibility into which cashed-in invoices are overdue by visiting your dashboard, and we will work with you as needed to co-ordinate communications with your customers.
We are always respectful of your relationship with your customers and Marmalade never works with third parties or debt collection agencies to recover outstanding payments.