Payments News

On The Web

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Companies

Connecting Crypto Wallets is Scary. Plaid Wants to Change That.

“More and more fintech app users have gotten used to seeing Plaid’s logo pop up when they try to connect their bank accounts. Now Plaid is trying to play a similar role for crypto applications. The company is releasing a product for crypto developers Thursday that makes it easier for them to connect consumers’ crypto […]
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Companies

Wise and Plaid Launch Open Finance Agreement to Enable Secure Financial Connectivity

“Wise, the global technology company building the best way to move money around the world, and Plaid, the API-first data network powering the digital financial ecosystem, today announced an open finance agreement to provide customers a seamless way to move money across different financial institutions. The integration is based on Plaid’s industry-aligned open finance solution Core […]
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Companies

Judge Approves Settlement Ordering Plaid to Pay $58 Million for Selling Consumer Data

“A federal court judge on Wednesday approved banking app Plaid’s $58 million privacy class action settlement after consumers claimed the company had harvested and sold their financial data without consent. U.S. Magistrate Judge Donna Ryu’s order found that 11 plaintiffs from five lawsuits, led by James Cottle, won payment for all impacted customers whose data was sold […]
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Companies

Plaid Teams Up with Truework to Launch Income Verification Solution

“Income and employment verification company Truework has partnered with Plaid to help the firm launch its new Plaid Income product. Plaid Income will bring greater accuracy, security, and speed to the loan application process. Prospective borrowers will be able to share income and employment data digitally and instantly with their approved lenders. Plaid Income will provide faster approvals for loan applicants […]
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Companies

Fintech Firm Plaid Agrees to $58 Mln Deal to End Privacy Case

“Plaid Inc has agreed to pay $58 million to resolve consumers’ claims that the financial technology company obtained and used bank account credentials and financial information without consent. San Francisco-based Plaid also agreed in the nationwide settlement to change certain business practices, according to filings Thursday in California federal court made by lawyers for consumers.”
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Companies

Judge Narrows Privacy Case Against Fintech Firm Plaid

“Plaid Inc must face some claims in a consolidated proposed class action that accuses the financial technology company of obtaining and using consumers’ banking account credentials and financial information without consent. U.S. Magistrate Judge Donna Ryu in Oakland on Friday found the plaintiffs sufficiently allege invasion of privacy, violation of California’s anti-phishing law and other […]
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Companies

Plaid Is Said Close to Financing at About $13 Billion Valuation

“Financial-technology firm Plaid Inc. is close to a new round of funding at a valuation of about $13 billion, almost three months after scrapping its sale to Visa Inc., according to people familiar with the matter. The funding round will be led by Altimeter Capital , said the people, who asked not to be identified […]

On The Wires

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Companies

Improving the Payments Experience in the UK | Plaid

“One year ago, we launched Payment Initiation in the UK, which included a new Payment Initiation experience in Plaid Link. Link is the fastest way to get started. It’s optimised for a seamless experience, and ensures your user experience benefits from the full Plaid platform. Since then, we’ve focused on improving the user experience for […]