Plastiq, Billfire Team Up To Let Suppliers Accept Payments By Credit Card

To allow distributors and vendors to take payments by credit card “without any merchant fees,” payment platform Plastiq has collaborated with accounts receivable (AR) automation provider Billfire. The connection offers a smooth and enhanced experience for clients of Billfire, according to a Wednesday (April 21) announcement.

The ability to take payments by the way of credit card “without paying a merchant fee” brings digital payment functionalities to a broader array of sectors and suppliers. Moreover, the capacity can speed up receivables and bolster profits for vendors while offering more working capital to purchasers, according to the announcement.

Billfire CEO John Lockhart said in the announcement that Billfire aims to provide clients with the advantages of automation by helping them decrease risk, receive quicker payments and take away work that takes a lot of time.

“Partnering up with Plastiq means we’ll be able to broaden credit card acceptance for our customers and allow them to avoid unwanted merchant fees. We are thrilled to announce this integration with Plastiq,” Lockhart said in the announcement.

Plastiq lets companies make payments or receive payments through credit cards. As a result, companies can grow quickly, bolster their working capital and have greater flexibility. In addition, Valet, Billfire’s signature offering, assists distributors and vendors with receiving quicker payment as it simplifies the complete invoice-to-cash workflow, according to the announcement.

Plastiq and Billfire will assist companies with handling their AR quicker and more effectively through their collaboration.

Plastiq President and Chief Operating Officer Sameer Gulati said in the announcement that “adding Billfire to our growing list of partners means that we’re able to reach a larger group of businesses who are in need of low-cost, easy-to-use payments and better cash flow management.”

In separate news, Plastiq and Ramp are teaming up to help firms make payments for nearly all types of business expenses with the Ramp card.