Mollie partners Plaid to boost onboarding for merchants

Dutch paytech Mollie has partnered with open banking fintech Plaid as it looks to streamline its onboarding process for merchants and make it “easier and faster” for its customers to start receiving payments and open online stores across Europe.

Mollie taps Plaid for streamlined onboarding

Mollie says its “strategic partnership” with Plaid will leverage the fintech’s open banking API to offer an enhanced bank account verification method.

The firm’s chief product officer Rogier Schoute says this integration will enable its customers to streamline onboarding as they grow their business. “Gone are the days of the overcomplicated verification method,” Schoute adds.

The implementation of Plaid’s open banking solutions will kick off in the UK, with further European markets to follow in the upcoming months, including France and Germany.

Plaid’s head of European partnerships Farid Sedjelmaci says the pandemic has spurred “intense financial digitisation”, creating huge opportunities for business.

Mollie is also exploring open banking for payments and other financial services for its B2B customers.