California-based fintech firm Plaid has seen more than its fair share of ups and downs over the last month. Its announced acquisition by Visa earlier this year represented an incredible opportunity for Plaid to expand its payment offerings the world over. When it was announced that that deal had fallen through in October, the news was seen as a major blow to the company.
According to a recent announcement, Plaid has no intention of quitting the game because it lost a round. In fact, Plaid is doubling down and entering the payment landscape alone, launching its own “ecosystem of payment partners.”
Built on pre-existing partnerships between Plaid and retailers throughout North America and Europe, as well as team-ups with companies including Square and Checkout.com, Plaid boasts that its own network is more than robust enough to offer varied payment options to its clients around the world. As stated in the official announcement of Plaid’s new network, the company will be able to “provide flexible options for any company to make bank payments an option in their checkout flows, and streamline digital account onboarding, top ups, and payouts, all at lower costs.”