Plaid customers can use Checkbook’s payment rails with instant account verification.
Checkbook.io, a payments processor specializing in sending push payments, announced a partnership with Plaid, a data network powering thousands of digital financial tools, so that Plaid’s customers can use Checkbook’s payment rails to instantly verify their customer accounts when initiating payments.
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“Our partnership with Plaid is a massive step in the direction of seamless customer experience for Checkbook’s clients. Simplicity and ease of use is our biggest asset and this latest development helps our clients seamlessly get started with Checkbook”
Instant account verification (IAV) enables businesses to verify, with consumer permission, the validity of any user’s bank information and source of funds within seconds. It helps users seamlessly link their financial accounts to digital financial tools and app, in a safe and secure manner
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This collaboration allows Checkbook clients to effortlessly connect customer accounts for sending payments. As Checkbook makes greater strides in making real-time payments accessible to the masses, offering IAV through Plaid will not only speed up company onboarding but will also aid stronger KYC (Know Your Client) and fraud mitigation.
“Our partnership with Plaid is a massive step in the direction of seamless customer experience for Checkbook’s clients. Simplicity and ease of use is our biggest asset and this latest development helps our clients seamlessly get started with Checkbook,” says PJ Gupta, Founder and CEO of Checkbook.
Checkbook’s clients are excited at the opportunity of leveraging this additional functionality. Shane Hamby, the VP of product at Stampli, one of the first to be onboarded using this integration, claimed, “I can’t think of the last time we moved to a new payment system and were able to seamlessly integrate with the API. Security is paramount in our business and being able to use existing Plaid tokens was a big attraction. Knowing that Checkbook and Plaid’s integration will tighten security makes this a no brainer for us.”
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