Trust, Plastiq Partner on New Marketing Payments Method 

Corporate card company Trust announced Tuesday (Sept. 28) it was working with the smart payments platform Plastiq on a program that lets businesses use their Trust cards to pay for more of their marketing investments.  

“Through this partnership, Trust members will benefit from up to 90-day payment terms and the ability to pay invoices where cards are not accepted,” the company said in a news release, adding this includes marketing investments across major advertising platforms like Amazon, Googled, Facebook, LinkedIn and TikTok. 

Plastiq lets businesses use cards to pay invoices, allowing them to up their working capital, become more agile and scale more quickly. The partnership will allow Trust members extend the total payment terms for marketing investments by up to 90 days. 

Trust members will also get access to 10-20 times higher credit limits, community insights, market-level performance data and advice on their marketing investments. 

“Trust is focused on helping members of the Trust community make smarter marketing investments and increase cash flow,” said CEO James Borow, whose company launched earlier this year.  

“Paying for marketing investments through bank transfers (ACH) or check can restrict cash flow and constrain growth,” he said. “Our partnership with Plastiq will help remove that hurdle.” 

Read more: ‘The B2B Payments Disruption Has Started,’ Plastiq CTO Tells PYMNTS 

In an interview with PYMNTS earlier this year, Plastiq Chief Product and Technology Officer Stoyan Kenderov discussed the genesis of the company’s offering. 

The Plastiq solution was designed to align the incentives of buyers and suppliers around card payments. Buyers can use a credit card to make a purchase, even if the supplier wants to receive the payment immediately via ACH directly to their bank account. Businesses on the Plastiq platform can have their choice of payment modality, paying a small processing fee for that choice and for immediate posting of the payment to their supplier’s bank account.

It’s a “win-win” for buyers and suppliers alike, Kenderov said. Buyers get terms to pay for their purchases, while suppliers get to reduce terms by being paid right away according to how they want to be paid.  

“Those are innovations that didn’t exist 10 years ago,” he noted. “We think the world at large has missed this opportunity to enable all forms of cash and credit between buyers and suppliers to flow back and forth.”