Latest News

Mollie partners Plaid for Open Banking services

By Hannah McGrath

Payment service provider Mollie is partnering with Plaid to offer merchants Open Banking-enabled onboarding and account verification.

Under the terms of the tie-up Mollie will leverage Plaid’s Open Banking network and payments Application Programming Interface (API) to speed up the onboarding and verification experience, with the aim of making it easier for Mollie’s customers to start receiving payments and open digital storefronts across Europe.

The deal comes as the use of Open Banking technology in e-commerce expands rapidly across Europe.

Rogier Schoute, chief product officer at Mollie, said: “Our customers are at the heart of our business and we are constantly improving and striving to offer the best payments experiences.
“Plaid shares this same philosophy with us and creates exceptional products. We’re particularly excited because the partnership will allow us to offer our customers a fantastic solution to facilitate quick and easy onboarding, not only the first time they join Mollie, but also as they grow their business abroad.”

The implementation of Plaid’s Open Banking solutions will start in the UK, with further European markets set to follow in the upcoming months, including France and Germany.

Mollie is exploring the use cases of Open Banking for payments and other financial services for its B2B customers, the company said.

“With the pandemic, Europe and much of the world experienced two years of intense financial digitisation, creating huge opportunities for businesses to serve customers in new ways,” said Farid Sedjelmaci, head of European partnerships at Plaid. “Embedding Plaid solutions into payment service providers like Mollie unlocks the power of Open Banking for thousands of merchants with significantly less time and fewer resources required to deploy and manage.”

    Share Story:

Recent Stories

Barclays issued with $361m penalty

Toqio raises €20m in Series A funding round

Penfold launches Advisor Portal aimed at SMEs


The human firewall: Activating employees to safeguard financial data
As financial services increasingly embrace SaaS and cloud-based technologies, they face emerging threats to safeguard sensitive customer data. While comprehensive IT security measures are essential, the active involvement of employees across organisations is pivotal in ensuring the protection of sensitive data.

BANNER

BANNER

Building a secure financial future for instant payments: The convergence of ISO 20022 and fraud detection
The financial landscape is rapidly evolving its approach to real-time transactions under the ISO 20022 standard, and financial institutions must take note. With examples such as the accelerated adoption of SEPA Instant Credit Transfers in Europe and proposed New Payment Architecture (NPA) programme in the UK, the need for swift and effective fraud detection is more crucial than ever.

Data Streaming and Consumer Duty: Transforming customer experience in banking
Introduced at the end of July, the Consumer Duty is a game-changing new set of rules and guidance for financial services institutions in the UK, and companies must look to modernise their systems in adherence with it in mind to create the best customer experience possible.

From insight to action: Empowering financial institutions through advanced technology and collaborative information sharing
The use of Information sharing in enhancing financial crime prevention has been universally agreed as being beneficial. However no-one has been able to agree on how information can be shared safely without breaching data protection laws or having the right systems to facilitate this, Information sharing has re-emerged as a major consideration for financial institutions (FIs) ahead of the Economic Crime and Corporate Transparency Bill being made into law in the UK.

© 2019 Perspective Publishing     Privacy & Cookies