Marqeta Partners With Plaid To Seamlessly Fund Accounts And Expedite Spending

Global card issuing platform, Marqeta, has announced a partnership with financial services company, Plaid, to allow customers to seamlessly and securely authenticate and fund their bank accounts for immediate spending.

“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.”

Through the partnership, Marqeta customer’s cardholders can quickly initiate ACH transactions to send money between customer accounts as well as external accounts. Additionally, they can quickly verify and link external accounts, making it easier to fund accounts and start spending sooner.

Furthermore, Marqeta customers will also be able to keep their users up-to-date on transfer status with real-time notifications and handle initiation, cancellations and returns across their accounts using Marqeta’s APIs.

“By partnering with Plaid, 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,” said Vidya Peters, chief operating officer at Marqeta. “We’re making it as simple as possible for consumers to access their bank information from one application, and reduce the time it takes to fund and begin using their account. Through our Plaid integration, developers building on Marqeta can authenticate users’ bank accounts without the complexity and extra time associated with traditional ACH processing, creating an overall more seamless experience.”

Originally published at https://retailbum.com on February 15, 2022.