Published on December 17th, 2019 | by Chuck88
Plastiq Will No Longer Accept Prepaid Debit Cards Beginning 2020 (RIP)
Beginning in 2020, Plastiq will no longer allow the use of personal prepaid debit cards on their system. Basically, Visa and Mastercard gift cards will no longer work on their system. RIP
Until January 1, 2020, you can continue to use prepaid cards, up to $7,500 in total payments. You can read full details on the Plastiq site here.
They just sent out an email:
We would like to let you know about a change to our service that may affect you.
As of January 1, 2020, Plastiq will no longer support payments made with personal prepaid debit cards. However, payments made with business prepaid debit cards and payroll cards will continue to be accepted.
After this date, all scheduled payments made with personal prepaid cards will be declined by Plastiq. Starting January 2020, you will be unable to add a personal prepaid debit card to a Plastiq account.
From now until January 1, 2020, a limit of $7,500 in total payments will be enforced on Plastiq accounts that continue to utilize this payment method. Once this limit is reached on your account, further payments using a personal prepaid debit card will be rejected.
This change does not impact any payments made with credit or debit cards on the Discover, Mastercard, Visa, and American Express networks.
It’s not clear to me why they wouldn’t accept the cards, just take your cut with the 2.5% fee. Maybe fraud issues.