Plastiq Adds Cash Payments Feature, Announces Customer and Partner Growth

Plastiq, a payment solutions provider for small business, has expanded the scope of its payments platform to include U.S. cash payments, in addition to credit card payments. The cash payments feature enhances Plastiq’s existing credit card payment offerings to provide businesses of all sizes the ability to pay all of their bills in one place using their linked bank accounts or credit and debit cards for optimized cash flow management. In addition, Plastiq announced significant growth in the second half of 2020, particularly from businesses in eCommerce and healthcare, among other sectors.

Plastiq’s cash payments feature allows users to make any payment through their linked bank accounts, connecting their financial accounts instantly and securely. Now, customers can start making payments immediately, eliminating the hassle of writing checks and allowing businesses to make and track all of their business payments all in one place and gain unprecedented visibility into their total cash flow.

“With the addition of cash payments, we are providing our customers with a fully integrated, intelligent payments solution that serves as a one-stop shop for all of businesses’ payment needs,” said Stoyan Kenderov, Chief Product and Technology Officer at Plastiq. “By giving businesses the freedom to pay and be paid in more ways than ever before, including cash, credit card or check, Plastiq is now the one essential tool every business owner can count on to set themselves up for growth and success. It allows owners to better manage their cash flow and save thousands of dollars in time spent on making or tracking payments across disparate tools and services.”

Plastiq has revolutionized how its more than 1.5 million customers optimize working capital by enabling them to pay or accept payment for anything with cash or a credit card, even where credit cards or digital payments are not accepted. Thanks to strategic partnerships with companies including US Bank, Visa, Mastercard, Silicon Valley Bank and more, any business — from eCommerce companies and healthcare facilities to construction companies and restaurants — can use Plastiq to pay their bills. Payments can be sent in whichever manner the business prefers, whether via check, wire transfer or ACH transfer. The intelligent platform provides real-time insights into businesses’ payments, cash flow and working capital. These insights inform how and when to pay business expenses, allowing companies to efficiently manage resources across any industry supply chain.