The Plastiq Connect integrated financing product has been updated by B2B payments platform Plastiq, which claims it now offers an embeddable user interface (UI) that takes less time to design.
Plastiq stated in a news statement that platforms may use Plastiq Connect to provide a variety of payment and disbursement options that make it simpler for their business clients to pay suppliers and receive money from clients.
Businesses looking to enter the $9 trillion financial services market have two options: they can invest millions of dollars in developing or purchasing financial services technology, or they can collaborate with a tried-and-true platform like Plastiq Connect, according to the company’s founder and CEO Eliot Buchanan.
According to the press announcement, Plastiq enables businesses to better use working capital, open new lines of credit, and implement a digital bill pay and accounts payable (AP) by offering a buyer-funded model of credit card acceptance in place of the conventional supplier-funded one.
In addition to altering how organizations do business and manage their working capital, embedded finance also gives any company the chance to provide financial services as a method to diversify their product offerings and spur development, according to Buchanan.
Small- to medium-sized businesses (SMBs) may utilize Plastiq to finance their biggest suppliers and vendors, who otherwise might not take such cards, by using the credit cards they currently have available, according to Buchanan.
