Plaid’s Fintech Accelerator Inauguration: FinRise

Thursday, July 29th, 2021

The leading financial services company Plaid has started an inaugural group of 5 fintech startups in its program called FinRise. This article will shed light on this initiative, which is important for anybody in payments, no matter you’re a fintech startup or a merchant.

Plaid’s Inaugural Group: Fintech Startup

Plaid, a San Francisco-based financial services company, has recently introduced a group of startups in its new accelerator program known as FinRise. The latter is an incubator program aimed at helping startup founders who are Black, Indigenous, or People of Color succeed in their business journey.

This program is equity- and capital-free and has already picked 5 starters in the fintech world. Overall, there were 100 applicants focused on the fintech space and looking for ways to make payment processing simpler. The deal would value Plaid at $10 – $15 billion. Previously, the company had already announced it wasn’t planning a merger with Visa, which would cost $5.3 billion.

So, if you’re a startup owner in the fintech world, you could consider this new opportunity for growth. The fintech industry is growing fast, and merchants, in general, can’t stay without stirring a finger: getting access to the latest payment services is critical in today’s world of payments. 

No matter you’re a fintech startup owner or just need access to the most sophisticated merchant services, turn to an expert comparison company like BestPaymentProviders.com. Best Payment Providers U.S. will provide you with the most unbiased review of merchant services providers so you can find the best fit for your eCommerce business. 

More From FinRise Program & Plaid 

What is this FinRise program? First, the program implies a 3-day boot camp with 9 workshops concerning the industry’s regulation and policies, marketing and communications strategies. Next, the program connects startups in the group with internal Plaid mentors for tactical. Besides, the program enables these startup founders to share skills over a network.  

On a side note, Open Banking platform Plaid has partnered with payments company Square to allow U.S. merchants to enjoy simpler ACH payment processing. Thanks to the partnership, you can avoid holding sensitive bank information. 

Specifically, you can accept ACH payments via Square Invoices with enabled ACH payments through Square Web Payments SDK without the need for bank authentication or any complex actions associated with payments.

So, the fintech giant Plaid has announced its inaugural group of 5 starters in the fintech world. These startups are working on solutions to enable consumers to enjoy simpler payments and be able to access credit without challenges. If you need help with payment services, work with a reputable comparison specialist that can make things easier for you.