“I wasn’t asking to pay in Bitcoin!” Plastiq CEO and co-founder Eliot Buchanan recalls with a laugh. “I went to pay part of my tuition at Harvard and I was told that they didn’t (and never would) accept credit card. It was inconvenient and seemed odd. Credit cards had been around for 50 years.” That set off the a light bulb in his head. “Why couldn’t I use a credit card to pay for this important bill? So, I set out to solve my own problem.”
Whether you’re trying to pay your rent or tuition on credit, or you have a business and want to invest in a new opportunity or get a better rate by paying vendors up front, Plastiq can help. For a flat 2.5 percent fee, you pay Plastiq through your credit card, and it issues the proper wire transfer, check, or deposit for up to $500,000 on your behalf to whoever you owe.