Plaid unveiled a new program this week that will use the software to make it easier and cheaper for consumers and businesses to make digital payments funded by their bank accounts. To do this, Plaid has signed up dozens of payment processors and tech companies in North America and Europe, which would then give their customers a pay-by-bank option alongside other payment methods, such as credit or debit cards.
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Plaid pushes into payments business after scuttled Visa deal
“What we’ve been hearing from all of our clients is, ‘We want to have a more diversified payment capability that Plaid can be an enabler for,’ ” Mr. Williamson said.
