Plastiq, a B2B payments platform, has revised its integrated finance product, Plastiq Connect, and says that it now offers an embeddable user interface (UI) that is easier to develop.
Platforms may utilize Plastiq Connect to offer a range of payment and disbursement alternatives that make it easier for their company clients to pay suppliers and receive money from clients, according to a news release from Plastiq.
According to Plastiq Connect’s founder and CEO Eliot Buchanan, companies looking to enter the $9 trillion financial services market have two choices: they can spend millions of dollars on creating or acquiring financial services technology, or they can work with a tried-and-true platform like Plastiq Connect.
According to the press release, Plastiq offers a buyer-funded model of credit card acceptance in favor of the traditional supplier-funded one, enabling businesses to more effectively utiliz working capital, create new lines of credit, and adopt a digital bill pay and accounts payable (AP).
According to Buchanan, integrated finance changes how businesses operate and manage their working capital while also enabling any firm to offer financial services as a way to expand their product line and promote growth.
According to Buchanan, small- to medium-sized companies (SMBs) may use Plastiq to fund their largest suppliers and vendors who might not otherwise accept such cards by utilizing the credit cards they already have on hand.
