VoPay and Plaid Payments: Our Partnership Explained

Jun 15, 2020

Last week we announced the next phase of our partnership with Plaid which saw us become a platform partner. What does that mean? Well, it’s now even easier to implement our payments API that layers Plaid’s data over top of our core payment engine to deliver the most powerful API-based EFT payments solution in the market improving funding speed. Also, you maximize payment security and avoid storing sensitive data through our payment data tokenization structure:

vopay + plaid payments

EFT Payments made faster, more efficient and more Secure

VoPay + Plaid payments provide businesses six key benefits:

  1. Bank Account Verification: Verify users identities and authenticate bank account prior to the transaction.
  2. Reduce NSF: Reduce NSF fees by having visibility into bank accounts available funds.
  3. Reduce Input Errors: Auto-fill forms with identity data when users link their bank accounts.
  4. Transparent Tracking: Get full visibility into each transaction with courier package like tracking.
  5. Faster Payments: Validate transaction status and access to funds within 24 hours.
  6. New Revenue: Offer on-demand products and services to retail clients.

Are you an existing Plaid client?

You can take advantage of your existing data integration with Plaid by leveraging your data tokens and have your users skip all the authorization access and bank account selection steps, streamlining the payment check-out experience. You’ll need to sync your data aggregator account with VoPay to enable this.

VoPay and Plaid Payments: Getting started

Interested in evolving your existing EFT payments solution to give you real-time data to make better business decisions? Visit our dedicated product and API documentation page to get started or to learn more!

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