VoPay, a leader in payments innovation, announced today its partnership with Plaid, a data network powering the fintech tools that millions of consumers rely on to improve their financial lives, to deliver its payment solution to businesses across North America.
As a result of the partnership, consumers benefit from a credit card alternative to make secure online bank account payments.
The partnership is part of VoPay’s initiative to extend their services to customers across North America in order to reduce the primary pain points for payments processing, such as transparency and cost. This partnership helps consumers better understand and access their financial data while enabling direct bank payments.
“Collaborating with industry leaders, such as Plaid, allows us to provide a robust solution that can ease the payments pain points of businesses across North America while reducing fees and saving them money,” said Hamed Arbabi, Chief Executive Officer at VoPay. “Our goal is to allow businesses to grow and better deliver financial services to customers.”
"The ability to make payments directly from a bank account transfer is extremely valuable for many merchants, but especially for marketplaces and platforms," said Lowell Putnam, Head of Partnerships at Plaid. “Businesses can increase processing velocity and reduce errors -- making payments faster, safer, and more accurate."
Through the partnership, VoPay will be connected to Plaid’s network of over 15,000 financial institutions, providing a comprehensive online bank account payment solution.