If you owe the government money on your taxes this year, perhaps earning credit card points on the payment could help remove some of the sting.
Online payment platform Plastiq Inc. said Tuesday that it has been recognized by the Canada Revenue Agency, which means Canadians can use Plastiq to pay their taxes using the credit card of their choice.
“Many Canadians are very savvy with their credit card use, balancing a number of preferred cards to ensure their rewards are maximized,” said Eliot Buchanan, co-founder and CEO of Plastiq, in a statement. “With Plastiq, a credit card is now a viable option to pay personal income tax, providing consumers with new choices and flexibility to strategically manage payments while capitalizing on the rewards offered by their credit card provider.”
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A Boston-based company, Plastiq charges a fee of two per cent per transaction to allow Canadians to make large payments via their American Express, MasterCard, or Visa card to merchants who would previously accept only cash or debit. And for merchants, the cost of the transaction is borne by the consumer, making it possible to accept credit card payments when the volume doesn’t make setting up a traditional merchant account practicable.