The recent news of B2B payments company Plastiq declaring bankruptcy has shocked the fintech sector. Plastiq, once valued at $480 million, began to experience cash flow problems, which led to a failed SPAC merger and a brief halt in operations brought on by the unexpected failure of its banking partner, Silicon Valley Bank..
Amid the tumult, one company has emerged as a beacon of stability and a viable alternative for companies seeking reliable and efficient B2B payment solutions: OnlineCheckWriter.com.
Founded by Sabeer Nelliparamban, OnlineCheckWriter.com has robustly weathered the recent turbulence in the fintech industry.. The company, powered by the cloud-based, AI-driven platform CheckFlo, provides comprehensive financial services that seamlessly integrate with banks and effectively manage payables and receivables.
Modern technology makes OnlineCheckWriter.com less reliant on any banking institution than Plastiq, which had problems because it relied on Silicon Valley Bank. With connections to more than 22000 banks and financial institutions in the US, the platform offers improved compatibility. This extensive connectivity is a distinct benefit, especially in an environment where individual bank stability cannot be taken for granted..
Additionally, businesses can manage their financial transactions effectively with OnlineCheckWriter.com, maximizing working capital and maintaining liquidity. Due to the platform’s adaptability, users can choose from several payment methods, including checks, ACH, direct deposits, and RTP, to meet their and business needs. This adaptability has been crucial to OnlineCheckWriter.com’s success and is especially important in light of the liquidity issues that Plastiq faced, which ultimately led to its demise.
Additionally, OnlineCheckWriter.com receives high marks for security and compliance, two crucial components of any platform for financial operations. While Nearside, which Plastiq had acquired but needed to improve in technology, safety, and controls, presented difficulties, OnlineCheckWriter.com is dedicated to upholding the highest security standards.. The platform is SOC 2 Type 2 certified, which ensures the highest level of trust and privacy for clients.
Furthermore, OnlineCheckWriter.com provides distinctive features that shield businesses from unauthorized and fraudulent checks, adding another security layer. Companies can easily switch over and adapt thanks to its user-friendly interface, which lowers the likelihood of any transitional friction.
One of its highlights is the emphasis on customer-centricity placed on OnlineCheckWriter.com’s offerings. The recent issues at Plastiq, such as the canceled SPAC deal and the service interruptions, have highlighted the value of dependable customer service in the fintech sector. With its personalized services and round-the-clock customer support, OnlineCheckWriter.com provides businesses with some assurance in these tumultuous times.
The unfortunate events at Plastiq should serve as a warning but also present an opportunity for businesses to review their B2B payment options. With its cutting-edge technology, broad compatibility, and strong customer support, OnlineCheckWriter.com stands out as a robust and reliable alternative for companies looking to future-proof their financial operations.
Turning to a reputable and trusted platform like OnlineCheckWriter.com as businesses navigate the evolving B2B payments landscape offers a practical way to ensure stability and efficiency in their financial operations. Plastiq’s story highlights the potential pitfalls in the industry, but OnlineCheckWriter.com is still dedicated to providing dependable, secure, and robust financial solutions to companies of all sizes.
- Yerak, B. (2023, May 24). Payments Processor Plastiq Files for Bankruptcy After Aborted SPAC Deal. Wall Street Journal.
- (2023, May 25). Plastiq files for bankruptcy; agrees acquisition deal with Priority. Finextra.
- Shen, L. (2023, May 25). Plastiq files for bankruptcy, inks deal with Priority. Axios.
- com. (2023). OnlineCheckWriter.com Features. OnlineCheckWriter.com.
 Yerak, B. (2023, May 24). Payments Processor Plastiq Files for Bankruptcy After Aborted SPAC Deal. Wall Street Journal.
 OnlineCheckWriter.com. (2023). OnlineCheckWriter.com Features. OnlineCheckWriter.com.
 (2023, May 25). Plastiq files for bankruptcy; agrees acquisition deal with Priority. Finextra.
 Shen, L. (2023, May 25). Plastiq files for bankruptcy, inks deal with Priority. Axios.