Fintech company Plaid announces partnership with Square
Plaid, a fintech company based in the US, announced yesterday that it has partnered with the American financial services firm, Square to give merchants in the US a better experience regarding ACH payments.
According to the official announcement, the new collaboration will allow US merchants to easily process ACH payments without the need of holding sensitive bank information. Plaid mentioned that merchants will be able to accept ACH payments via Square invoices.
Square will use a tokenized check system through Plaid to enable customers to connect securely to their bank accounts for payments. Plaid highlighted the importance of a secure and transparent process for businesses to collect payments of high-value orders.
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