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Plaid has announced a solution that will enable vertical software-as-a-service platforms to integrate embedded bank payments directly into their products, enabling their customers to collect bill payments and to disburse funds for vendor payments. The company’s new Transfer for Platforms will provide onboarding, risk and payments in one place.
“Embedded payments turn a SaaS product into a more complete solution, creating opportunities to monetize beyond subscriptions,” Weinstein wrote in the post. “When payments are integrated natively into workflows, customers get a smoother experience, platforms unlock new revenue streams, and the product becomes stickier.”
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