Fintech platform Knot has partnered with Plaid, a data network that powers the tools millions of people rely on to live a healthier financial life. Knout will now provide its CardSwitcher product to more than a hundred of the largest merchants in the United States through its merchant connectivity infrastructure for their updating needs for consumer payments.
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In the partnership, Plaid will refer customers to Knot for automated card management and ensure that, at the end, users in its ecosystem can push their credit or debit cards to top-of-wallet in two easy taps across hundreds of online platforms from different merchants. Knot’s CardSwitcher will then be optimised to meet the different payment preferences and needs of Plaid users.
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Plaid works with thousands of companies like Venmo, SoFi, and Betterment, several of the Fortune 500, and many of the largest banks to make it easy for people to connect their financial accounts to the apps and services they want to use. Plaid’s network covers more than 12,000 financial institutions across the US, Canada, UK and Europe. Headquartered in San Francisco, the company was founded in 2013 by Zach Perret and William Hockey.
“The collaboration with Plaid aligns perfectly with our mission to provide a seamless and user-centric financial ecosystem,” said Rory O’Reilly, CEO of Knot. “Plaid has built an incredible fintech ecosystem, and as their Preferred Provider for card-switching, we look forward to offering their customers the best solution via CardSwitcher.
About Knot
Knot is the first merchant connectivity platform offering card-on-file switching for hundreds of online merchant accounts. Major financial institutions and startups embed Knot’s SDK to power customer experiences. Headquartered in New York City, Knot was founded in 2021 by Rory and Kieran O’Reilly and is backed by leading investors, including Nava Ventures, 8VC, American Express, Plaid, and many more.
