(Updated September 3, 2019: EU countries can now be paid as well.)
(Updated August 6, 2019:¬†Japan, Taiwan, South Korea, India, Canada, and the UK can now be paid as well)
Announcing our newest Plastiq feature: international business payments!
Starting today, all Plastiq users will be able to make international payments to businesses in China, Hong Kong, and Singapore. And we’ll be adding payment capabilities to more countries over the coming weeks.
This powerful new service is a result of many years of product testing and iteration. As the first employee at Plastiq, I remember the early days when our first payments were limited to a select group of Canadian private schools. Three years ago, we moved to a ‚Äúpay virtually anyone‚Äù model to support U.S. payments. And two years ago, this evolution culminated into a pilot program where hundreds of Plastiq customers have successfully sent millions in wires to 50 countries worldwide.
The power of increased cash flow
One of the most interesting aspects of paying international vendors by card is the ability to sell goods before paying for them. With traditional wires, you have to pay your vendor up front and wait 3 to 4 weeks to receive your goods. That’s a long time to have your cash tied up!
Paying on a credit card means you don’t have to deploy cash ahead of receiving your shipment. In many cases, our clients are even able to turn a profit on goods before having to pay for them. ¬†This has made international payments integral for our e-commerce customers, like Trekology.
“We source many of our products overseas and paying our vendors through Plastiq has been extremely helpful. Not only do we gain an extra 30 to 60 days of float, we also get rewards for our largest expenses,” said Sherman Chang of Trekology.
Better than the competition
While there are other services that offer international payments on a credit card, there are several key differences that make ours the premier choice.
The biggest distinction is our ability to fund vendors who aren’t registered with Plastiq. Like our domestic pay-anyone offering, this is truly unique in the payments industry and gives you the power to pay virtually any vendor, regardless of whether or not they accept cards.
Make your first international payment today
We hope you enjoy this latest service from Plastiq. To add your first international payment, simply click here and log into your Plastiq account.
In the meantime, if you have an immediate need to pay a business located in a country other than China, Hong Kong, and Singapore, please send an email to email@example.com.
Thanks for being a valued Plastiq customer!