We’re excited to announce a new integration with Plaid, bringing their seamless account verification capabilities together with the power of Marqeta’s modern card issuing and money movement platform. Plaid’s data network powers the tools millions of people rely on to live healthier financial lives and our partnership will enable our joint customers’ end users to seamlessly authenticate their ACH transfers and start spending right away.
Through our Plaid integration, developers building on Marqeta can authenticate users’ bank accounts without the complexity and extra time associated with traditional account verification methods. With Marqeta ACH capabilities, customers will be kept up-to-date on transfer statuses with real-time notifications and will be able to more simply handle initiation, cancellations, and returns across their accounts via our open APIs.
“The future of financial services involves a simplified, secure way to share financial information and move money across applications,” said Eric Sager, Chief Operating Officer at Plaid. “Legacy infrastructure laid the groundwork for the payments landscape, and Plaid’s partners like Marqeta provide a faster and more seamless experience for our joint customers to securely offer ACH transfers.”
Plaid works with more than 12,000 financial institutions to make it easy for companies like Marqeta to deliver financial products and services to fintechs and banks via the Plaid network. In addition, our joint customers will have advanced security, avoiding the need to store sensitive information from their cardholders’ external bank accounts as they will only need to handle tokens, while Plaid and Marqeta exchange bank account information in the background.
We are building on the capabilities of modern card issuing that make it easier for our customers to build innovative card programs that allow their businesses to thrive. Visit our developer guide to learn more about our Plaid integration.