Accounting
Plooto Launches New Credit Card Acceptance for SMBs
The Credit Card Acceptance feature provides Canadian and American customers with an additional stream to secure their payments. SMBs can now collect payments as fast as two business days compared to slow and inefficient traditional check payments that ...
Nov. 02, 2021
Plooto is an all-in-one platform that enables Canadian and US small and medium-sized businesses (SMBs), accountants, and bookkeepers to automate domestic and international accounts payable and accounts receivable. Recognized as the fastest way to manage business-to-business (B2B) payments, Plooto announced the launch of the Credit Card Acceptance feature to help SMBs get paid faster by credit cards to further improve cash flow.
The Credit Card Acceptance feature provides Canadian and American customers with an additional stream to secure their payments. SMBs can now collect payments as fast as two business days compared to slow and inefficient traditional check payments that take up to 10 business days or EFT and ACH payments that take up to four business days.
Getting paid fast is the key to growing a business as faster reconciliation improves cash flow visibility. In fact, according to a study done by US Bank, “82% of SMBs fail because of poor cash flow management.” Hamed Abbasi, Co-Founder and CEO of Plooto, said, “at Plooto, we are building the foundational tools SMBs need every day to manage their financial operations better.”
With the launch of Credit Card Acceptance combined with the existing receivable options available on Plooto, including ACH payments, EFT payments, e-transfers, recurring payments, and pre-authorized debits (PADs) agreements, small businesses can consolidate receivables into a single platform. A Plooto customer stated, “we like to use one payment system to receive all our payments.” SMBs can now unite the scattered receivable options into a single tool, Plooto, to save time and increase the speed of managing receivables.
Plooto also integrates with popular accounting systems such as QuickBooks and Xero to eliminate manual data entry and automate reconciling bills and invoices. Getting paid with credit cards on Plooto will streamline businesses’ financial processes from collecting payments to auto reconciliation, closing the book faster.
Getting paid by credit card will also help businesses to build stronger customer relationships by providing more payment options, making it convenient for customers to make payments from anywhere at any time.
Adopting Plooto to automate receivables with the latest Credit Cards Acceptance feature, you can get paid in as little as two business days, which is faster than traditional methods, which will improve your cash flow.