Checkbook and Plaid partner for seamless enterprise onboarding

By Pavithra R

Checkbook, provider of a platform designed to send or receive Blockchain-enabled digital checks online, has announced a new partnership with Plaid, a FinTech company democratizing financial services through technology, enabling Plaid’s customers to use Checkbook’s payment rails to instantly verify their customer accounts when initiating payments.

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 to link their financial accounts to digital financial tools and app seamlessly in a safe and secure manner. 

“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,” said PJ Gupta, Founder and CEO of Checkbook.

The partnership enables 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 is expected not only to speed up company onboarding but will also aid stronger KYC (Know Your Client) and fraud mitigation.

“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,” said Shane Hamby, the VP of product at Stampli, one of the first to be onboarded using this integration.

Founded in 2012, Plaid is focused on building the enabling infrastructure for financial services that provide a secure and efficient way to move financial data, reducing fraud and providing more product and service options to consumers that can improve their transparency and control over personal financial information.