US Visa commercial cardholders can now use Plastiq’s platform to pay vendors, even those who currently do not accept card payments.
U.S. Bank is the latest financial institution to enable its SMB Visa cardholders to pay vendors through Plastiq.
Today, less than 12% of B2B Payments are made by cards according to a Credit Research Foundation survey. By opening its platform to Visa commercial cardholders, Plastiq is providing businesses more flexibility and control over how they use their cards to manage their cash flow and finances.
The Bank Business Leverage Visa Signature card
U.S. Bank recently introduced a new small business credit card, called U.S. Bank Business Leverage Visa Signature. The credit card accelerates rewards in the categories where customers spend the most each month, including raw materials and supply chain purchases such as construction materials, commercial equipment, medical supplies or advertising.
These cardholders can now use Plastiq to pay even more of their expenses with their U.S. Bank card to help access working capital and reap additional rewards.
“Business owners know how to run their businesses efficiently,” said John Steward, President of U.S. Bank Retail Payment Solutions. “We worked closely with owners to develop the U.S. Bank Business Leverage card. One of the messages we heard loud and clear is they want maximum value on spend they’re already making. Now with Plastiq and Visa, our cardholders have expanded options to use their cards with more vendors and earn rewards on more purchases than they would with other forms of payment.”
Commercial cards are the most accessible financing tool for many businesses, providing a revolving line of credit they can immediately use to fund or expand business operations.
With Plastiq, business owners can pay a large majority of their expenses by credit card, which allows them to better manage cash flow, tap early pay discounts and earn card rewards.