Update 5/7/19: Plastiq has clarified that, “if a Plastiq customer was quoted the 1.5% promotional Plastiq fee on the payment review page and then submitted the payment successfully, we will honor that promotional pricing – as long as it was in compliance with our terms of service. This includes future scheduled or recurring payments that saw the promotional fee upon payment submission. Please note that future scheduled payments will lose promotional pricing if they are edited.”
Update 11:04pm ET: Plastiq has now clarified with us that the promotion is an official promotion, but only for targeted users in Canada on select payments. It was a system error causing it to work on all Mastercard payments, and that’s now been fixed. Far as I know, whatever payments were sent already are locked in at the lower rate, but I guess we’ll find out.
Update 9:36pm ET: A few readers are reporting this is now dead.
The Offer
- Plastiq is offering processing on Mastercard credit card payments for a 1.5% fee, down from the typical 2.5% fee.
The Fine Print
- Mastercard only
Our Verdict
A reader sent this one in. It appears to be some sort of specific promo for Mastercard payments, as shown in the screenshot above. From what I’ve checked, payments with other card types like Visa are showing the regular 2.5% fee. This makes sense as Plastiq has run such specials with Mastercard in the past.
The odd thing is that Plastiq has always sent out information about such promotions. We’ll see if we hear anything on this one, maybe it’s an official promotion starting soon that went live a bit early or it’s a test phase.
If anyone is signing up for a new Plastiq account, there are two referral offer options going on now is you signup with our Plastiq referral link: (1) standard offer to get $500 in free processing after you process $500 in paid processing; (2) special offer through May 31 to get $10,000 in free processing if you signup as a business and process $10,000 in paid processing. (All Plastiq users can refer friends for the standard referral offer, and some people have the business referral offer attached to their referral link as well.)
Hat tip to reader William and Jon
