Rex Salisbury’s Post

I'm a little embarrassed by how excited/stoked/twitterpated(?) something has made me... We're finding product-market fit! Listen to this story: WayBoz uses Plaid to allow users to pull in all their real estate transactions and then WayBoz gets the transactions automatically assigned to properties so real estate investment ROIs are always current, automated, and awesome... Weirdly enough, Plaid doesn't support Amex Business Checking (which is what this user had)... Well, she recently wrote me and told me she changed all her bank accounts to a bank Plaid supports because WayBoz made her life that much easier! It was a no brainer for her! Then she started telling everyone in her network to use WayBoz. Product market fit: "customers are buying, using, and telling others about your product." This was really cool to see happening to your own product. (PS, don't worry - for 99% of you, you'd never have to change a bank account - Plaid supports most banks which is why we partnered with them) --------------- We want your thoughts on WayBoz too so we've made it FREE to use! https://www.wayboz.com And if you find a bug, send me what happened (OS, Device, browser, etc) and I'll make it free for even longer for you!

The landscape of international online payments is moving away from credit and Plaid is laying the foundations to capitalize on it. - Internationally, people don't like to use credit cards in general - Gen Z also doesn't use credit cards By launching "Pay-by-bank", they're able to offer a debit-based payment system which is cheaper than the traditional 3% credit card processing fee. But the most interesting part is how they built it on top of Plaid Signal, which predicts ACH risk return, to ensure a high payment success rate. We're watching Plaid evolve from just a connector to a payments platform in real time. Super impressive.

Fintech companies like Plaid put safety and security first. Learn more about their enhanced authentication policies that keep consumers’ financial information safe. 👇

Instant 🛠️manual 🛠️ AND 🔒credentialed🔒 authentication options are available with Plaid. These updates allow you to streamline your payment process and access lower fees with less admin, and your customers can access instant authentication, whichever method they prefer. 🔗 Discover how Plaid enables easier, and more reliable authentication: https://lnkd.in/gekRyF4R

💡 Exploring Next.js and Payment Solutions! I'm currently diving into a new project with Next.js to sharpen my skills, and I decided to experiment with Plaid for card payments. 🌐💳 It's my first time using Plaid, stepping out of my comfort zone with Stripe. Has anyone here worked with Plaid before? I'd love to hear about your experiences! Also, what other payment solutions do you recommend? Let's share insights and learn from each other. Looking forward to your thoughts and recommendations! 🚀 #NextJS #Plaid #Payments #WebDevelopment #TechExperiment #LearningJourney

Niching down means solving an entire problem for one group. When you don’t niche down you get sky high churn, snail paced growth, nonexistent product-market fit, and endless pivots. You could ship more features, get more sales talent, create more content on your product, and still wonder why isn’t anything sticking. Who experienced both sides of the coin? Plaid, the company that connects apps to users' bank accounts. When Plaid started in business they had 8 pivots because nothing stuck. They wanted to “Make Money Easier For Everyone.” They started getting traction when they focused on integrating with corporate American Express card users for expense management. This laser-focused approach solved 1 problem in its entirety. This built strong customer loyalty and set the stage for their massive growth. What single problem is most interesting that isn't solved today? Subscribe to my newsletter to learn more: https://lnkd.in/d7WGB8fi

Plaid coming in hot with a one two punch. 🥊 💥 ⛁ 🏦 Some data aggregators currently compete through minor differences such as coverage, reliability, etc. However, I firmly believe that regulations like 1033 and organizations like the Financial Data Exchange, which are steering towards standardization, will eventually commoditize data aggregation as it relates to open banking. The differentiator will soon shift from the aggregation of data to its application. This is the path Plaid appears to be following. 1. Adyen partnered with us to enhance bank payments, enabling consumers to pay directly from their bank accounts and streamline the payment process. https://lnkd.in/gdnmMubW 2. Michael Saunders, GM of Credit at Plaid, announced the company's plans to establish a new entity that will function as a consumer reporting agency. Disrupting the oligopoly in this space. https://lnkd.in/gcaeFRbz I wonder what other data aggregators in this space are currently developing. #dataaggregation #openbanking #openfinance

At Stripe Sessions today, we announced a ton of cool new product features! A couple that I’m excited to share in light of many recent user discussions: ✅ We’ve more than doubled the number of payment methods we support, from 50 to over 100—now including Amazon Pay, Revolut Pay, Zip, Twint, and Swish. In fact: we added more payment methods in the last 12 months than in the previous twelve years combined. ✅ A/B tests in the Stripe Dashboard, for free, with no code. These tests can help you understand how new payment methods will impact your business across conversion, average order value, and share of wallet. Watch the keynote here: https://lnkd.in/gzzEmc7t

PayByBank -- Plaid!?! I must have been asleep when this happened, but Plaid now has a really interesting PayByBank solution with millions of consumers active. How I missed this, I don't know. They have live merchants including Tesla and Rivian! The guys at Plaid walked me through the demo and sent me the attached video of consumer enrollment and checkout, a seamless experience! Plaid recently joined MRC and now I understand why! My PayByBank questions: Consumers, will a consumer who shops and activates at one merchant, work at another, the answer is yes for Plaid. This is what has allowed their network to grow so quickly! Coverage, they have 95% coverage in the US, missing a few smaller banks, but they have all the large banks connected. Cost, they have both a guaranteed funding model as well as a share all the data with the merchant and let the merchant take the risk. With their existing network and connections to banks for authentication, they have a lot of terrific information on a consumer to look for suspect transactions, giving them a leg up on some of the smaller competitors the industry. You can check them out at MRC | Merchant Risk Council Vegas coming up in just a few short weeks! A special thanks to Shaffer Bond who took the time to explain to me how it all worked and answer my endless questions and get me the video! #payments #paybybank #openbanking #innovation