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Plaid now enables instant pay-ins as well as instant payouts via its flexible multi-rail payment platform, Plaid Transfer. The financial data network has added support for real-time pay-ins via Request for Payment (RfP) on the RTP® Network to Instant Payments on Plaid Transfer. RfP enables businesses to request a payment from a customer in real time.
“For merchants, instant bank payments mean getting paid faster, reducing payment failures and eliminating the operational drag of reconciling delayed or returned ACH transactions, while also delivering a better customer experience,” the release said. “It’s a win-win for both sides of the transaction.”
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