Plastiq Accept helps businesses collect payments faster, keep cash on hand and meet inventory needs
Today, Plastiq, the intelligent payment solutions provider for businesses, announced its card acceptance product, Plastiq Accept is now live and available to the public. Plastiq Accept’s enhanced payment acceptance features help businesses get paid faster and more reliably.
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“COVID-19 and the associated restrictions have caused a domino effect of late payments across the economy,” said Eliot Buchanan, CEO and co-founder of Plastiq. “As cash reserves run dry, many businesses have been unable to pay suppliers, as they simply don’t have the cash on hand. This has left suppliers unable to pay their own bills due to these late or missed payments. Responding to our customers’ feedback, we accelerated the development of Plastiq Accept in order to reduce cash flow burdens and unblock the flow of vital services and supplies.”
Expanded to include capabilities previously only available through traditional and costly credit card acceptance products, Plastiq Accept enables businesses to accept credit card payments for free, without having to pay the typical 2.5-4% fee that traditional payment services providers charge. By offering a credit card payment option to their customers through Plastiq, businesses get paid on time and more reliably, unblocking cash flow in the supply chain and getting businesses moving forward again. By allowing customers to put payments on credit cards and gain an additional 30-45 days of leeway between the biller due date and their credit card statement due date, businesses are able to help their clients maximize working capital while also conserving cash during this period of economic uncertainty. At the same time, customers’ on-time payments through Plastiq helps keep the supply chain moving without delays.
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“Plastiq Accept has quickly become a critical tool for our company’s success,” said DadeSystems Chief Marketing Officer and Plastiq partner Tom Berdan. “Many of our customers are unable to accept credit cards on their own, so being able to integrate Plastiq Accept into our payment management options has made a huge difference by opening up an entirely new payment channel that can be set up in no time at all.”
Plastiq Accept’s offerings include reporting integration and a custom payment page, giving businesses the convenience of a standard merchant account without the traditional fee and integration hassles. Businesses can get up and running on Plastiq Accept in minutes, with no paperwork, maintenance, infrastructure or software integration required. Their customers can also benefit from early pay and bulk purchase discounts while earning rewards on their credit cards.
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