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What is Plastiq?

Plastiq is an online payment platform that enables businesses and individuals to pay any bill or invoice, including those not traditionally payable by credit card, using their preferred credit or debit card. Plastiq serves as a bridge for payments between cardholders and merchants, eliminating the need for checks or wire transfers.

Who is Plastiq for?

• Small Business Owners: Plastiq is ideal for small business owners who need to make a variety of payments, including those not typically payable by credit card. It offers a cost-effective and convenient solution for making payments and managing cash flow.
• Individuals: Plastiq can benefit individual users who prefer to pay their bills using their credit or debit cards but are limited by what payments their providers accept.
• Frequent Travelers: Plastiq is advantageous for frequent travelers who need to pay for travel expenses such as rent, utilities, or taxes and can earn points or miles by using their preferred credit or debit card.

How does Plastiq work?

Plastiq works by allowing users to pay any bill or invoice using their preferred credit or debit cards, even when the merchant does not accept card payments. Users input their payment information to Plastiq, who then sends the payment to the recipient via check or ACH transfer. The recipient receives the payment and no longer requires a physical check.

How is Plastiq used?

• Billing: When a bill is due, users input the payment information, and Plastiq will pay the recipient in a method that is most convenient for the payee, whether by check or electronic payment such as an Automated Clearing House (ACH) transfer, and using the payment method the payer prefers.
• Remote Payments: Plastiq is beneficial for remote payments where the payee is not locally available, and a check cannot be physically delivered. Users can pay bills easily and quickly without having to waste time and money on check printing, postage, and envelope costs.
• Business Expenses: Plastiq is also handy for business expenses, such as vendor or supplier payments, rent, and utilities. Business owners can make payments quickly and get rewards or cashback from their credit cards.
• Execution of Future Payments: Users can schedule future payments with Plastiq for upcoming bills or recurring payments, ensuring timely payments and avoiding late fees and penalties.

By using Plastiq, users can simplify their payment processes, save time and money, and earn rewards or cash back on their purchases, all while ensuring timely and secure payments.