Frequently Asked Questions
What is Plastiq?
Plastiq is a service that enables cardholders to make payments to merchants who do not typically accept card with their credit card of choice. Our service empowers cardholders with an additional payment choice that they normally would not have.
How does Plastiq work?
Cardholders simply visit plastiq.com, indicate the merchant and amount they would like to pay, and enter the credit card they would like to use to make a payment. A nominal fee of 1.99% to 2.49% is assessed for use of the service. Payments can be made through Plastiq using any major credit card.
Why should I pay with Plastiq?
Using Plastiq provides the same convenience, security and rewards cardholders are accustomed to for payments they normally could not make with their credit card of choice. Using a credit card through Plastiq is faster and easier than writing a cheque, more convenient than sending a wire transfer, and safer than carrying cash. Not to mention, members receive access to a Plastiq payment concierge and world-class service from start to finish.
What is the cost of using the Plastiq service?
Plastiq assesses a nominal service fee to make this payment option possible — a percentage of the total amount of the payment. The service fee for tuition is 1.99% - 2.49%. For each transaction, two charges will appear on your credit card statement: 1) the principal amount of the payment, and 2) the service fee.
Why am I being charged a fee?
Plastiq charges a nominal service fee in order to make this option of credit card payment possible. All credit card transactions are completed by behind-the-scenes processors, which assess a fee in order to operate. When merchants accept credit card payments on their own, they pay this fee for each transaction. In instances when merchants do not or cannot accept card on their own, Plastiq makes card payment possible through a service fee that is uniquely lower than different solutions.
Which merchants can be paid via Plastiq?
At this time, Plastiq has significant coverage across North America in tuition, tax, and bill payment verticals, including utilities. Our merchant network is constantly expanding within these verticals, and will eventually include merchants from other verticals, as well.
Importantly, a merchant's inclusion in the Plastiq system does not imply (nor is dependent upon) a direct relationship or association with Plastiq. It solely indicates that Plastiq is able to send payments to a merchant.