Plastiq, a smart payments platform for SMBs, this week announced the appointment of Kerry Hatch as its new president and board member. Hatch 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, co-founder and CEO of Plastiq. “According to a Deloitte report, 63 per cent 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 more than 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 launched 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, CEO of QSP at Time, Inc. and COO of Global Client Services at Acxiom, a marketing intelligence company. Hatch is currently a board member of Fevo, a social payments company, and a board observer and investor at Grata, a search engine for discovering small to middle market private companies.
She will also work with financial services and technology partners to build out a payment platform ecosystem. Plastiq’s API solution enables companies 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.”