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Former American Express OPEN President joins Plastiq to accelerate the business as demand for digital payments rapidly increasesSAN FRANCISCO, Sept. 22, 2021 /PRNewswire/ -- Plastiq, the leading smart payments platform for small and mid-sized businesses (SMBs), today announced the appointment of Kerry Hatch as its new President and board member. In her new position, Kerry will play a key role in accelerating the growth of the business by leading the product, engineering, talent, operations, business development, and go-to-market functions at Plastiq.
"As an advisor to Plastiq for many years, Kerry is well versed in the goals of our company as well as the financial technology and payments industries. We are excited to announce her addition to our executive team as President," said Eliot Buchanan, CEO and co-founder of Plastiq. "According to a Deloitte report, 63% of businesses maintain a cash reserve to cover the time it takes to receive payments. Because of this time lag and the simultaneous need to invest more capital to grow, the demand for faster, more flexible digital payments is on the rise. Kerry's expertise and leadership will be vital for our next phase of growth and achieving our mission for helping SMBs grow and succeed." Hatch has over three decades of extensive strategy and operating experience in the financial services, technology, media, data and services industries. She has spent the majority of her career at American Express, ultimately serving as President, where she lauched and grew the company's first sub-brand OPEN: The Small Business Network into a multi billion dollar business. She also served as CEO of a private-equity backed entertainment company, President of St. Regis & Luxury Collection Hotels, Chief Executive Officer of QSP at Time, Inc. and Chief Operating Officer of Global Client Services at Acxiom, a marketing intelligence company. Kerry is currently a board member of Fevo, a social payments company, and a board observer and investor at Grata, the search engine for discovering small to middle market private companies. As Plastiq's president, Hatch will lead the next phase of the company's journey. Plastiq introduced the first holistic, smart payments platform that enables SMBs to pay businesses even where cards are not accepted, and accept payments from their customers without any fees. New capabilities such as approval workflows and automated reconciliation with accounting software deliver unprecedented levels of efficiency and control of payments. Kerry will also lead efforts externally with key financial services and technology partners to build a robust payment platform ecosystem. Plastiq offers a unique API solution that enables partners across multiple industries to embed both card and bank funded payment capabilities into their platforms and deliver payments even where cards are not accepted. Partners using Plastiq Connect can now offer differentiated, streamlined payment services within their applications and access new revenue streams. "As SMBs have a desire to save time and maximize flexibility, Plastiq allows them to efficiently make and accept payments the way that works best for them. I am thrilled to join Plastiq's team and once again leverage my skills and passion to help advance the growth and success of SMBs throughout the world," said Hatch. "Digital payments are on the rise and Plastiq is at a pivotal point with its product capabilities and almost decade of experience serving more than 150,000 SMBs across all industries." To learn more about Plastiq, please visit www.plastiq.com About Plastiq
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