Plastiq, the renowned online payment platform, has announced that it is once again accepting American Express cards as a payment method. This comes after a pause in accepting Amex payments since February 2023. The restoration of this option is effective from today, October 30, 2023, according to a support article.
Plastiq’s Journey: From Bankruptcy to Revival
Plastiq had long been a popular choice for increasing credit card spending from the comfort of one’s home. The service allowed users to pay for services like mortgages with a credit card, a convenience that typically came with a fee. Despite the fee often exceeding the rewards from the card, the service remained useful for welcome bonuses.
However, earlier this year, Plastiq faced several challenges. It first stopped accepting American Express credit cards in February, citing operational issues. Payments were then delayed, and in May, Plastiq filed for bankruptcy.
A few months later, Priority Technology Holdings completed the acquisition of Plastiq on August 1, 2023, with the approval of the United States Bankruptcy Court for the District of Delaware. Since then, Plastiq has been up and running again, now operating under the name “Plastiq, powered by Priority.”
American Express Cards: Back in the Game
This week, the company sent out an email informing users of the completion of the acquisition and the upcoming acceptance of American Express credit cards. The email stated:
“As of October 30th, 2023, Plastiq is happy to announce that we now accept American Express once again. Our customers will now be able to add their American Express cards to their wallet and will be able to make payments immediately”
However, the email also noted that while American Express cards are supported in both the United States and Canada, payments using an American Express card to a vendor located in Canada are currently not supported. The company hopes to add this functionality soon.
The reacceptance of American Express cards on Plastiq is a significant step forward for the company and its users. It not only adds to the versatility of the platform but also provides more options for businesses and individuals alike.
But there’s one thing to remember. While you can use American Express cards in both the United States and Canada, you can’t use an American Express card to pay a vendor located in Canada right now. Plastiq hopes to add this feature soon.
Here’s a simple table to show what payments you can make using an American Express card on Plastiq:
What You Can Pay For
Can You Use Amex?
Rent
Yes
Mortgage
Yes
Utilities
Yes
Insurance
Yes
Taxes
Yes
School Tuition
Yes
Contractors
Yes
Legal Services
Yes
In short, Plastiq accepting American Express cards again is great news for people who like using this payment method. It makes the platform even more useful and gives more options to businesses and individuals.
Now, we have a question for you: How do you feel about Plastiq accepting American Express cards again? Let us know in the comments.
