Checkout partners with Plaid to drive further innovation in the fintech ecosystem
The fintech ecosystem is alive with innovation. Investments in fintechs reached $98bn globally in the first half of 2021, and consumers are responding by embracing digital finance solutions at a record pace. For example, today, 66% of people across the US and UK primarily manage their finances through apps.
But it's a fast-evolving and competitive landscape. Consumers expect the fintech offerings they use to be accessible, seamless, and secure, especially when it comes to payments and account funding. If their expectations aren't met, they will seek alternatives.
As the go-to payment provider for global fintechs like Wise and Curve, we're committed to empowering the world's most innovative businesses. We provide them with the payments technology they need to challenge the status quo, build exceptional customer experiences and launch new business models.
To stay true to this commitment, we work with like-minded innovators in the fintech ecosystem like Plaid, whom we're excited to announce as a new strategic partner.
Plaid’s solutions make it easy for people to connect their financial accounts to the apps and services they want to use. And our partnership is based on a shared goal to remove the complexity that global fintechs face to drive innovation.
Eric Sager, COO at Plaid and Mike Benchimol, COO at Checkout.com, discuss why every successful organization should think like a fintech
Many of the world’s leading fintechs already use our solutions to craft the optimal payment experience for their customers. Plaid's integration with Checkout.com will make using both services together more seamless than ever.
The new integration enables businesses to securely share account information from Plaid to Checkout.com without the business needing to store or hold any payment information. This allows businesses to leverage Plaid's leading account verification solution and offer seamless account-to-account payments — alongside other popular payment methods — through Checkout.com’s unified API integration.
As Paul Williamson, Head of Revenue and Partnerships at Plaid, explains: "Account-based payments aren’t new, but the industry is far from realizing their full potential. Plaid is building an account-based payments ecosystem as flexible and fluid as this burgeoning opportunity."
Our new partnership with Plaid isn't only focused on ensuring our customers have the most comprehensive suite of payment products today. It's also about combining our expertise to build the future of financial services together.