FinTech Alliance company Marqeta has teamed up with Plaid in their first official product partnership.
In Brief:
Card issuer Marqeta will use Plaid’s data aggregation to enable faster account verification.
It will also mean faster payment transfers.
Plaid offers an alternative to having to verify external bank accounts via microdeposits.
What does this mean?
According to the businesses, the partnership is mutually beneficial with Marqeta gaining a “robust” set of APIs for card issuing, while Plaid will be able to embed its technology into other FinTech infrastructure providers’ products.
