Plaid and Railsbank have partnered to enable Railsbank customers to access Plaid’s Payment Initiation API.
In Brief:
Plaid delivers secure access to financial ecosystems through open banking.
Railsbank’s open banking platform uses APIs to offer companies banking products.
With the API, Railsbank customers can instantly accept bank payments in-app or online.
What does this mean?
Embedded finance means being able to offer payment options within an app or website, enabling a more seamless customer experience. As a Banking-as-a-Service platform, Railsbank enables clients to offer payment options among other services, and now these can be embedded into the client’s own branding. The aim is to make embedded finance a viable option for any company, large or small.
