Update: This has now been somewhat confirmed, more information here.
Just a quick rumor/headsup: According to an anonymous source, Plastiq will entirely stop allowing Visa personal credit cards to be used on their system. This will only affect Visa personal cards, business cards will continue as before. My guess is that Visa gift cards and personal debit cards will be affected by the change as well – it’ll all depend on the BIN and likely won’t discriminate.
Visa had wanted to have everything go through as a cash advance which obviously Plastiq could not allow causing them to decide to drop Visa completely.
According to the source, it might change as early as tomorrow. More likely, in my opinion, is that Plastiq would give us some notice before making the change (unless they are barred from doing so for some reason).
We reached out to Plastiq for comment and haven’t heard back yet. Hopefully this rumor won’t materialize, but my guess is it will. Worth a headsup for anyone who is relying on Plastiq for a spend requirement to make that payment sooner rather than later.
As a reminder, Mastercard and Discover can be used for all payees. Visa can be used for everything besides mortgages. Amex can only be used for Government, Utilities, Education, Residential Rent, and Club Fees and Memberships.
If you’re new to Plastiq, here is my Plastiq referral link or you can find a referral on our dedicated Plastiq Referral Thread.
