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 resolution to allow its clients to seamlessly make their transactions with no need to fret about account or routing numbers. Highnote clients will even be capable of 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 below are three issues it’s essential find out about Highnote and its partnership with Plaid.
Highnote helps open finance work for embedded finance
Firms have pursued embedded finance as a option to develop or re-envision their enterprise fashions. These companies that search to make card issuance part of their enterprise face challenges when it comes to offering a safe, frictionless person expertise. Courtesy of Highnote’s partnership with Plaid, companies will be capable of immediately authenticate cardholder accounts, and finish customers will be capable of simply authenticate with their monetary establishments and select which accounts to make use of for funds.
Eradicating friction is essential to enhancing the client expertise
Serving to clients – people or companies – get from level A to level B rapidly is essentially the most rapid approach for companies to point out they’ve their clients’ pursuits – and their time – prime of thoughts. Highnote’s partnership with Plaid is all about eradicating friction and creating seamless experiences for purchasers of every kind. By automating and making instantaneous operations resembling 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 path of creating monetary providers extra accessible and handy.
The Plaid partnership is Highnote’s third partnership in six months
Highnote – in collaboration with Mastercard – started the 12 months 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 carry earned wage entry to underbanked employees.
“We constructed Highnote to allow firms like GoDo to create really distinctive and game-changing cost options for his or her clients,” Highnote co-founder and CEO John MacIlwaine mentioned. “The earned-wage-access market wants modernized cost options that may energy progressive digital experiences and we’re right here to ship that.”
Highnote made its Finovate debut earlier this 12 months 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 provides buyer administration groups management over the cost 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 Collection A spherical closed in September of final 12 months.
Picture by César Vonc
