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All-in-one card issuer and program administration platform Highnote has teamed up with fellow Finovate alum Plaid. The brand new partnership will allow frictionless cash transfers for card options powered by Highnote. The corporate will leverage Plaid’s account auth and steadiness answer to allow its prospects to seamlessly make their transactions while not having to fret about account or routing numbers. Highnote prospects will even have the ability to use Plaid Hyperlink to immediately authenticate cardholder accounts after which mechanically create a Highnote Processor Token to allow fund transfers between card accounts and exterior financial institution accounts.
Listed here are three issues you should learn about Highnote and its partnership with Plaid.
Highnote helps open finance work for embedded finance
Firms have pursued embedded finance as a approach to develop or re-envision their enterprise fashions. These companies that search to make card issuance part of their enterprise face challenges by way of offering a safe, frictionless consumer expertise. Courtesy of Highnote’s partnership with Plaid, companies will have the ability to immediately authenticate cardholder accounts, and finish customers will have the ability to simply authenticate with their monetary establishments and select which accounts to make use of for funds.
Eradicating friction is vital to enhancing the client expertise
Serving to prospects – people or companies – get from level A to level B rapidly is probably the most quick method for companies to point out they’ve their prospects’ pursuits – and their time – high of thoughts. Highnote’s partnership with Plaid is all about eradicating friction and creating seamless experiences for patrons of every kind. By automating and making instantaneous operations similar to account authentication and financial institution verification, the partnership between Highnote and Plaid is one small step for cash motion, and a big leap within the course of creating monetary companies extra accessible and handy.
The Plaid partnership is Highnote’s third partnership in six months
Highnote – in collaboration with Mastercard – started the yr serving to enterprise credit score platform Tillful launch its Tillful Card. This spring, Highnote introduced a collaboration with GoDo as the corporate launched its GoDo Card designed to convey earned wage entry to underbanked staff.
“We constructed Highnote to allow firms like GoDo to create really distinctive and game-changing fee options for his or her prospects,” Highnote co-founder and CEO John MacIlwaine stated. “The earned-wage-access market wants modernized fee options that may energy modern digital experiences and we’re right here to ship that.”
Highnote made its Finovate debut earlier this yr at FinovateSpring in San Francisco. On the occasion, Highnote demonstrated the developer expertise on its cloud-native, GraphQL API-based issuer-process platform. The corporate additionally confirmed how the platform’s interface offers buyer administration groups management over the fee transaction lifecycle, in addition to present entry to transaction processing knowledge.
Headquartered in San Francisco, California, Highnote has raised $54 million in funding. This embody a $42.5 million Sequence A spherical closed in September of final yr.
Photograph by César Vonc
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