This technology will enable Marqeta customer’s cardholders to initiate ACH transactions to send money between customer accounts and external accounts. They will also be able to verify and link external accounts more quickly, making it easier to fund their accounts and start spending sooner. Marqeta customers will also be able to keep their users up to date on transfer status with real-time notifications and will be able to handle initiation, cancellations, and returns more simply across their accounts via Marqeta’s APIs.

Plaid works with more than 12,000 financial institutions to make it easy for fintech companies to deliver financial products and services via its network. An additional benefit of this partnership is improved security: Marqeta customers will avoid storing sensitive information from their cardholders' external bank accounts as they will only need to handle tokens, while Plaid and Marqeta exchange bank account information in the background.

To find out more about Plaid, check out their profile in our company database.