Plastiq, the intelligent payment solutions provider for businesses, announced a partnership with IBOS member Silicon Valley Bank (SVB), the bank of the world’s most innovative companies and their investors, to offer foreign exchange (FX) credit card payment capabilities.
Through this new partnership, businesses can use their credit card to pay international suppliers in the suppliers’ local currency, even where credit cards are not accepted, for a more streamlined, hassle-free payments experience.
IBOS member SVB will release new currency options on a rolling basis and its broad global reach will provide clients with the option to pay their suppliers in more than 90 international currencies.
In addition to the new FX payments solution, the partnership expands to SVB’s Commercial Card segment. SVB Commercial Card clients can now benefit from Plastiq’s pricing when using Plastiq to pay their suppliers that do not accept credit cards in the US or global markets, enabling them to benefit further from their SVB Commercial Cards.
Read the full press release via Plastiq here.