Plastiq, a U.S.-based intelligent payments solution for small business, announced on Wednesday its card acceptance product, Plastiq Accept is now live and available to the public. According to Plastiq, Plastiq Accept’s enhanced payment acceptance features help businesses get paid faster and more reliably. The feature’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.
“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.”
While sharing more details about Plastiq Accept, Eliot Buchanan, CEO and co-founder of Plastiq, stated:
“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.”
Plastiq recently secured $75 million through its Series D funding round, which was led by B Capital Group with participation from Kleiner Perkins, Khosla Ventures, Appcomplice, and Top Tier Capital Partners. The investment brought Plastiq’s total funding raised to more than $140 million.