Knot Teams Up with Plaid for CardonFile Switching
New York, NY – June 19, 2024 – FinanceWire
In a groundbreaking move, Knot, a cutting-edge fintech platform specializing in card-on-file management solutions, has joined forces with Plaid, a data network that powers the digital financial ecosystem, as their preferred referral partner for card management services. Through Knot’s merchant connectivity infrastructure, their innovative CardSwitcher™ product will now be available to over one hundred of the largest merchants in the United States to meet their consumer payment updating needs.
As part of this strategic partnership, Plaid will guide customers to Knot for a seamless card management experience, allowing end-users to easily update their credit or debit cards on various online merchant platforms with just a few taps. Knot’s CardSwitcher is customizable to each individual user’s payment preferences, ensuring a personalized and efficient service.
Rory O’Reilly, CEO of Knot, expressed his excitement about the collaboration, stating, “The partnership with Plaid perfectly complements our goal of creating a smooth and user-centric financial ecosystem. As Plaid’s Preferred Provider for card-switching, we are thrilled to offer their customers the best solution through CardSwitcher™.”
Knot’s CardSwitcher is integrated into a cardholder’s banking or fintech app and connects to a vast network of merchants globally, covering a wide range of online retail and subscription services. Users can update their payment information across multiple platforms with just a few clicks, eliminating the inconvenience of manual updates.
The benefits of CardSwitcher extend to card issuers, merchants, and end-users alike:
– Automated Updates: Card information is automatically updated, ensuring uninterrupted service and a seamless user experience.
– User-Centric: Users have control over where their cards are stored and how their payment information is shared.
– Merchant-Friendly: Merchants benefit from reduced transaction declines and improved customer retention with up-to-date payment information.
About Knot:
Knot is a leading global merchant connectivity platform that enables users to securely manage transactions with hundreds of merchants daily. Their flagship product, CardSwitcher™, offers major financial institutions, banks, and fintech companies a secure and user-friendly solution to switch default credit or debit cards on file at merchants as requested by cardholders.
For more information, please visit: https://knotapi.com/
Contact:
Isaac Tebbs
Head of Growth
Knot
[email protected]