{"id":5181,"date":"2021-05-26T18:09:35","date_gmt":"2021-05-27T00:09:35","guid":{"rendered":"https:\/\/www.paymentfacilitator.com\/?p=5181"},"modified":"2022-12-05T11:32:11","modified_gmt":"2022-12-05T18:32:11","slug":"square-and-plaid-partner-for-ach-payments","status":"publish","type":"post","link":"http:\/\/infinicept.com\/payment-facilitator\/news\/square-and-plaid-partner-for-ach-payments\/","title":{"rendered":"Square and Plaid Partner for ACH Payments"},"content":{"rendered":"\n<p><a href=\"https:\/\/plaid.com\/\"><strong>Plaid<\/strong><\/a><strong> recently announced that it is working with <\/strong><a href=\"https:\/\/squareup.com\/us\/en\"><strong>Square<\/strong><\/a><strong> to help U.S. businesses process ACH payments \u2013 debiting payment directly from customers\u2019 bank accounts \u2013 without having to hold sensitive bank information.<\/strong><\/p>\n\n\n\n<p>Plaid provides infrastructure that allows consumers to securely connect their bank accounts to apps without sharing their bank login information with those apps.<\/p>\n\n\n\n<p>The company said that Square will use a tokenized check system through Plaid that will allow customers to connect their bank accounts to enable payments to participating merchants.<\/p>\n\n\n\n<p>\u201cNow merchants can accept ACH payments through Square Invoices and developers can enable ACH payments through Square Web Payments SDK, without worrying about bank authentication or any managed payment complexities,\u201d Plaid said in a <a href=\"https:\/\/plaid.com\/blog\/square-and-plaid-partner-to-give-us-merchants-a-better-ach-experience\/\">blog post<\/a> on its site.<\/p>\n\n\n\n<p>The capability will help facilitate collections, particularly on high-value transactions, the company said. Square also plans to offer fee-free refunds on ACH payments.<\/p>\n\n\n\n<p>\u201cPayment flexibility, security, and transparency are core to Square\u2019s Payment Platform,\u201d Dennis Jarosch, head of payment platform at Square, said in the announcement.<\/p>\n\n\n\n<p>\u201cBy offering ACH payments, we can help businesses process large transactions online at a low cost without worrying about bank authentication, compliance, or any managed payment complexities. We\u2019re excited to offer ACH as one of many ways that businesses get paid fast and securely with Square.\u201d<\/p>\n\n\n\n<p>The companies touted reasons for offering ACH payments that include lower cost as well as less interruption in the payment process because bank account and routing numbers are more permanent than card data, which expires.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Plaid recently announced that it is working with Square to help U.S. businesses process ACH payments \u2013 debiting payment directly from customers\u2019 bank accounts \u2013 without having to hold sensitive bank information.<\/p>\n","protected":false},"author":7,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":true,"template":"","format":"standard","meta":{"_acf_changed":false,"content-type":"","_FSMCFIC_featured_image_caption":"","_FSMCFIC_featured_image_nocaption":"","_FSMCFIC_featured_image_hide":"","footnotes":""},"categories":[1014],"tags":[],"class_list":["post-5181","post","type-post","status-publish","format-standard","hentry","category-news"],"acf":[],"_links":{"self":[{"href":"http:\/\/infinicept.com\/payment-facilitator\/wp-json\/wp\/v2\/posts\/5181","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/infinicept.com\/payment-facilitator\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/infinicept.com\/payment-facilitator\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/infinicept.com\/payment-facilitator\/wp-json\/wp\/v2\/users\/7"}],"replies":[{"embeddable":true,"href":"http:\/\/infinicept.com\/payment-facilitator\/wp-json\/wp\/v2\/comments?post=5181"}],"version-history":[{"count":1,"href":"http:\/\/infinicept.com\/payment-facilitator\/wp-json\/wp\/v2\/posts\/5181\/revisions"}],"predecessor-version":[{"id":7274,"href":"http:\/\/infinicept.com\/payment-facilitator\/wp-json\/wp\/v2\/posts\/5181\/revisions\/7274"}],"wp:attachment":[{"href":"http:\/\/infinicept.com\/payment-facilitator\/wp-json\/wp\/v2\/media?parent=5181"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/infinicept.com\/payment-facilitator\/wp-json\/wp\/v2\/categories?post=5181"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/infinicept.com\/payment-facilitator\/wp-json\/wp\/v2\/tags?post=5181"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}