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We’re extremely pleased to announce the expansion of Plastiq’s Accelerated Check Payments offering. Expedited check payments are delivered within 2 business days!
When we survey small and medium sized businesses about the most important factors for their payments, “fast” and “reliable” are always near the top of the list. Unsurprisingly, a large portion of Plastiq customers (~50%) choose electronic payment methods like wire or ACH for their payments. The remaining half send their payments by check. Sending your payment by check can be the hassle-free way to pay – some vendors and landlords aren’t always forthcoming with electronic funding details. The challenge of getting these crucial funding details, combined with the desire for faster payments, means we hear many requests for expedited check payments.
This year we’ve been working with our check disbursement partners to offer faster delivery options. Checks can now be shipped via FedEx! Unlike our standard check payment offering, these payments come with delivery tracking. This expanded service offering is now part of our Accelerated Payments Suite and is available to all verified accounts for payments to U.S. addresses deliverable by FedEx*. Expedited check delivery fees will be visible to users on the calendar page early in the payment flow and on the payment summary page.
Since we started rolling out this expanded offering at the end of June, we’ve seen immediate usage by Plastiq customers. In the first 30 days, we’ve already processed over $500,000 in expedited check payments. We’re encouraged to see this high usage and level of success so you can certain we will continue to make paying with Plastiq faster and more reliable. As always, please continue to provide feedback and suggestions for how Plastiq can improve!
*Unfortunately, Post Office Boxes are not deliverable for FedEx.