Plastiq--an easier, faster, and smarter payment solution for buyers and suppliers.
In the business world, having cash on hand is essential to ensuring financial stability and expanding company operations. Although some companies have transitioned to using credit cards to pay their bills and/or accept payments for their goods and services, many still rely solely on automated clearing house (ACH) payments, wire transfers, or paper checks. Companies in the latter group and the customers who partner with them can find the lack of credit card acceptance restricting. In addition to limiting the number of payment options available, it slows down payment time, diminishes cash reserves, and reduces the amount of credit card rewards earned. For businesses looking for a more convenient payment method, Plastiq is a viable solution.
Plastiq allows customers to use their existing credit cards to make payments to companies that do not accept credit cards. It can be used to pay for virtually all business expenses, including rent, equipment, inventory, insurance, and marketing. This eBook provides a comprehensive overview of the payment platform.
The first section covers how businesses use Plastiq. It outlines the basic transaction process, which is as follows:
1) The customer (i.e., buyer) selects which companies (i.e., suppliers) to pay, regardless of whether they take credit cards.
2) Plastiq processes the credit card transaction.
3) Plastiq sends the payment to the company with all applicable payment details.
Additionally, it describes how both customers and companies benefit from using Plastiq.
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