Plastiq Eligibility Chart | Supported B2B Payment Types on Plastiq (2024)

FAQs

What are the three payment types? ›

Traditionally, cash, debit cards, credit cards, and checks were the main types of payments. Now, more advanced forms of digital payments are becoming more popular.

Plastiq for individuals

Plastiq accepts the following cards: Visa, Mastercard, Discover, Diners Club and JCB.

It's very likely you mistyped your card number, provided an incorrect expiration date or CVV. Check with your card issuer to see what billing address is currently on file for this card. The address might be different, especially if you've moved recently or if you're using a very old card.

Plastiq can support payments made with personal prepaid debit cards. However, these cards can only transact up to $10,000 per month. Any payments submitted with a personal prepaid card that exceeds this limit will be declined.

These methods include cash, credit / debit cards, bank transfers, mobile payments and digital wallets. They serve as the bridge between consumers and businesses, facilitating the exchange of money. They offer various features and security measures to suit individual preferences and situations.

The payment option that is not accepted online is cash. When making online purchases, you typically cannot use physical cash as a form of payment because there is no physical exchange of money. Instead, online transactions are usually done through credit cards and debit cards.

While Plastiq doesn't let you send money to yourself, you can use it to cover bills that don't accept credit card payments. Many people use it to make their rent or mortgage payments this way.

PayPal is an option for peer-to-peer payments using a credit card since Plastiq doesn't allow those types of payments. The platform charges 2.9% plus a $0.30 processing fee per transaction. That brings your total for a $1,000 payment to $29.30.

Pay Your Rent With Plastiq

It's free to make an account and getting started is simple. Rent payments can be made with cards from all major issuers, including Visa, Mastercard, Discover, and American Express. (Looking to pay your mortgage with a credit card instead of rent?

To circumvent the 2.85 percent fee for paying with plastic, Plastiq offers a referral program. If you refer someone who uses Plastiq to make at least $500 in payments, you'll be rewarded with 100 Fee-Free Dollars (FFDs), which translates to $100 in payments you can send without being charged a fee.

Is Plastiq worth using? ›

If you're paying a 2.85% fee to use credit, but earning more than that amount in rewards, then using Plastiq can make sense. If you paid a 2.85% fee to pay a hefty mortgage or another bill but managed to net 3%, you'd end up ahead -- provided you had a good use for those rewards.

Plastiq supports the following tax payments:

Personal Taxes - T1. Corporate Taxes - T2. Payroll Deduction. Excise Tax.

A third-party payment processor is a service that allows businesses to accept online payments. These payment processors facilitate transactions between the customer and the business by transferring funds from the customer's bank or credit account to the business's bank account.

There are three main components of the BOP: the financial account, the capital account, and the current account. The combination of the first two should balance with the third, but that doesn't always happen.

You pay the first installment directly, then a second installment in 30 days and a third installment in 60 days.

In the United States federal, state, and local governments all make transfer payments. The three major types of transfer payment at the federal level are social insurance programs, welfare, and business subsidies. Social insurance programs provide benefits to people regardless of their income level.