We are proud to announce Plaid has been integrated into the Capital on Tap Business Credit Card product and processes. The integration will ensure small businesses receive swift access to the funding they need to grow, and provide our customers with more control of their financial data.
Capital on Tap and Plaid share a commitment to protecting customers’ financial data, privacy, and security.
Plaid defines itself as a world leading open banking platform, allowing customers to connect to their financial institutions with complete transparency and control.
Better funding for our customers
Integrating with Plaid advances underwriting capabilities. With more data, small businesses will have the best funding options for their size and trajectory.
In some instances, this will result in higher credit limits more commensurate with a business’s revenue, as well as potentially access to funding for businesses that were not approved in the past due to a lack of available information.
More control and security
Plaid will allow customers to connect to their business bank account with just a few clicks. Whereas previously customers had to manually enter their bank details, integrating with Plaid not only makes the process easier for the customer, but also provides an extra layer of security as customers no longer need to copy and paste account information or log directly into their bank to get it.
Plaid is founded on the principle that you have a right to your financial information. The integration is designed to provide customers with the control, security, and transparency that underpins all of Plaid’s products and services.
While Plaid offers a more efficient way to connect to your bank account, customers will still have the option to enter their bank details manually if they choose to do so.
What do I need to do as a Capital on Tap Business Credit Card customer?
Absolutely nothing. There is no action item needed from you.
Should we require any bank details from you in the future, you will be given the option to connect with Plaid.
© Copyright 2022. Capital on Tap Business Credit Cards are issued by WebBank. © 2022 New Wave Card Inc dba Capital on Tap.