By Amelia Isaacs on Thursday 11 August 2022
Wise is the first international fintech to integrate with Plaid’s Core Exchange API.
“We know being able to conveniently use Wise to manage their global finances is vital to our customers, especially for those who are using Wise as their primary account,” Wise senior director of global expansion Sharon Ann Kean said.
“By working with Plaid, we’re giving customers the ability to connect their accounts to the apps and services they know and love in the US instantly and without hidden fees.”
According to early insights into customer activity, Wise users are already taking advantage of the partnership with peer to peer payments and through investment platforms.
Business customers in the US are using the services enabled by Plaid to payroll companies, connect to neobanks and pay credit card bills and taxes.
“Delivering secure data connectivity solutions to consumers is central to our mission of unlocking financial freedom for everyone,” Plaid universal data access lead Raja Chakravorti said.
“Our Wise partnership ensures access, transparency, and control for millions of consumers to securely connect their accounts to the apps and services they choose.”
It provides a streamlined, zero-cost way for data partners to implement the financial data exchange API specification, according to Plaid and adds to Plaid Exchange, helping companies facilitate data connectivity on behalf of their customers.