What is Marmalade?
Marmalade is an invoice Payments service. We process your customer payments free of charge (unless paid via credit card) when your customer pays an invoice using Marmalade OR you pay a Cash-in processing fee when you select that Marmalade pays your invoice before your customer has paid it.
As your customers are always paying Marmalade, you have the flexibility to Cash-in whenever you want. You have the flexibility to manage your cash flow, and your customers have a great payment experience.
We never charge interest or any other fees, Cashing-in does not create a liability and is not debt and you are not applying for a loan or line of credit when you sign up to Marmalade.
How does Marmalade work?
Marmalade is like any other payment service. After signing up, Marmalade will be the default payment method offered to your customers. Your customers pay their invoices as usual. The way we’re different is that we also give you the option to get those invoices paid (Cash-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 instantly unlock cash flow whenever you want.
Is Marmalade right for my business?
Any registered business in Australia can sign up with Marmalade if they’re using Xero, Quickbooks or MYOB Business/AccountRight for invoicing.
However Marmalade will work best for your business if you meet the following criteria:
- You have more than 5 customers who have received an invoice in the past 30 days
- You have more than 3 months of invoice payment history in your accounting platform
- You predominantly serviced Australian based business customers
- Your invoices are spread across numerous customers and aren't tied up in a small number of large invoices
- You have an ongoing cash-flow requirement, not an immediate one-off need for capital
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 https://www.withmarmalade.com.au/supplier_logins/sign_up
- Review the eligibility criteria and if your business meets them you can connect your accounting platform
- Verify your identity and sign the supplier agreement
- 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?
When your customer pays an invoice with Marmalade most transactions are free of charge. The only exception is credit card payments which are handled by our payments partner Stripe and will incur a small fee of 1.75% + 30c which is charged to your customer if they select this option.
If you choose to Cash-in an invoice before your customer has paid it, you will be charged a variable processing fee that is between 3%-5.5%. This fee will vary depending on the invoice/s you Cash-in. You’ll be clearly informed of that fee, for each invoice, before you Cash-in so you can decide which ones to choose.
How is the Cash-in fee calculated?
The Cash-in Fee is a function of your Status Fee and the Customer Fee.
The Status Fee is based on your Status which is dependent on your adoption of Marmalade.
The Customer Fee is based on the Customer Rating which is is an indication of how confident Marmalade is that the customer will pay in the invoice to Marmalade on time.
What can I do to reduce the Cash-in fee?
To reduce the cash-in fee you'll need to increase your Status and improve your Customer's Ratings.
Your Status can be increased by issuing invoices with Marmalade's payment details, receiving payments through Marmalade and repaying cashed-in invoices that no longer meets the requirements under the supplier agreement. For more information refer to our Article Here.
The Customer Rating can be improved by ensuring the customer is a regular customer, they pay through Marmalade and they pay on time. For more information refer to our Article Here.
How much can I Cash-in?
The number of invoices you have available to cash-in will be dependent on your Status and your Customer Ratings. Each of these components has a fee associated with it and if the total fee is less than 5.5% the invoice will appear in the Available or Conditionally Available tabs.
Can I request to make a Customer's invoice eligible?
The cash-in fee is built into the system and invoices can only be made eligible if the combination of the Status Fee and the Customer Fee is less than the 5.5% threshold. Refer to the answer above for more information on how to reduce your cash-in fee to increase the number of invoices which can be made eligible for cash-in.
How soon can I Cash-in after joining Marmalade?
Once you’ve completed your onboarding steps, generally you should expect to be able to cash-in straight away - either by reissuing some of your outstanding invoices, or issuing some invoices.
How soon are invoices available to Cash-in?
When you issue a new invoice through your accounting platform, Marmalade will immediately assess the invoice and determine whether it’s eligible for Cash-in. This usually happens within a few minutes of the invoice being sent to your customer and the invoice will appear in one of the four tabs on the 'Cash-in' page. If the invoice is eligible for Cash-in you’ll see it in the 'Available' tab, otherwise it will be in either the 'Conditionally Available' or 'Not Available' tabs. For more information on our tabs refer to our Article Here.
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 reason we may suspect that the invoice doesn't comply with our Supplier Agreement. You always have visibility into which cashed-in invoices are overdue by visiting the 'Invoices' page in your dashboard and filtering by 'Cashed-in' invoices and we will work with you as needed to coordinate 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.
Last updated: 17 November 2023