Adyen & Plaid team to offer Pay-by-Bank services in North America
By Delisha Fernandes
Adyen, a global financial technology platform, has partnered with Plaid, a digital finance company, to launch its Pay-by-Bank services in North America in early 2024.
Adyen’s significant investments in North America, which include securing a US Branch License and establishing local tech hubs – and the platform’s burgeoning embedded financial services, this collaboration was designed to unlock the best enterprise payment solution in the region.
“Plaid’s innovative, industry-leading financial technology made this partnership a great fit,” said Davi Strazza, President of North America. “Our complementary offerings together form an unparalleled Pay-by-Bank experience for businesses and end-consumers alike. This alternative payment method not only meets our customers’ demands for continually expanded payment methods – but in the process also significantly reduces costs across the payment chain for them. With this broadened offering, we look forward to continuing to position our single platform as the go-to enterprise solution in North America.”
Pay-by-Bank joins a list of more than 150 different payment methods offered by Adyen. The payment method further empowers enterprise merchants to process larger payment volumes.
Within the total cost of ownership benefits, the solution from Adyen and Plaid provides businesses with improved security and fraud protection measures, ultimately reducing chargebacks and nearly eliminating transaction failures.
“Making pay-by-bank more widely available gives consumers greater choice and flexibility and, ultimately, can help lower payment costs. Plaid is already trusted by about 1 in 3 Americans with a bank account, and provides a secure and seamless way to connect financial accounts for bank-linked payments,” said Eric Sager, Plaid COO. “In partnership with Adyen, we’ll bring pay-by-bank and marketplace onboarding to more companies in North America, helping them lower payment cost, increase conversion, and reduce both fraud and payment losses.”
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