Plaid, a global open finance data network and payments platform, has announced an expansion of its Payment Partner Ecosystem to include three new European partnerships – Primer, UniPaas and NoFrixion. As a result, more vendors and merchants can leverage open banking in order to improve operations and lower costs.
Through these partnerships, Plaid embeds its open banking payments and account information services within partner companies’ respective payments platforms. With open banking capabilities embedded, merchants and vendors can offer account-to-account payments as an alternative payment method in their checkouts and streamline merchant and vendor onboarding or verification processes.
These partnerships are a part of Plaid’s Payment Partner Ecosystem, which incorporates over 50 providers across North America and Europe and offers a range of tools and services used to build improved digital payment journeys. New partners include:
- Primer: a no-code automation platform for businesses that allows for the streamlined building of improved payments experiences.
- UniPaas: provides an embedded finance platform for B2B SaaS companies.
- NoFrixion: an EU-based programmable money API that replaces banks with software solutions.
Farid Sedjelmaci, European Partnerships Lead at Plaid, said: “Despite the obvious growth opportunities, keeping up with the tech landscape can be onerous for merchants. Account-to-account payments are an addition to an ever-growing list of new payment types, and open banking data for onboarding may seem like an additional complication. Instead, PSPs can offer all of the necessary solutions for improved payment journeys and onboarding so their customers can tailor offerings to the local market needs.”
Nabeel Saeed, Head of Partnerships at Primer, commented: “We’re excited to partner with Plaid to create new shopping experiences and support their mission to democratise financial services. Working with Plaid will mean Primer’s merchants worldwide can enable secure and seamless activation of Open Banking and account-to-account payments on their checkout in just a few clicks.”
Feargal Brady, Founder & CEO of NoFrixion, commented: “NoFrixion are excited to work with Plaid, helping businesses say goodbye to Internet Banking, online fraud and chargebacks.”