New York, New York, June 19th, 2024, FinanceWire
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 the preferred referral partner for card management services. Through its merchant connectivity infrastructure, Knot will now offer its CardSwitcher™ product to over one hundred of the largest merchants in the United States to meet their consumer payment updating needs.
As part of the partnership, Plaid will direct customers to Knot to streamline their card management processes, ensuring that their end users can easily make their credit or debit cards their top choice for payment on hundreds of online merchant platforms with just a few taps. Knot’s CardSwitcher can be tailored to the individual payment preferences and needs of Plaid users.
“The collaboration with Plaid perfectly aligns with our mission to provide a seamless and user-centric financial ecosystem,” said Rory O’Reilly, CEO of Knot. “Plaid has developed an incredible fintech ecosystem, and as their Preferred Provider for card-switching, we are excited to offer their customers the best solution through CardSwitcher™.”
Knot’s CardSwitcher is integrated into a cardholder’s banking or fintech product and connects to a vast global network of merchants, covering a significant portion of the online retail and subscription service landscape. With just a few clicks, users can update their payment information across multiple platforms, reducing the hassle associated with manual updates.
CardSwitcher offers the following benefits to card issuers, merchants, and end users:
Automated Updates: Card information is updated automatically, ensuring uninterrupted service and a seamless user experience.
User-Centric: The product provides users with the control to manage where their cards are stored and how their payment information is shared.
Merchant-Friendly: Merchants benefit from reduced transaction declines and improved customer retention, thanks to up-to-date payment information.
About Knot:
Knot is the leading global merchant connectivity platform that enables users to seamlessly and securely manage their transactions with hundreds of different merchants on a daily basis. Its flagship CardSwitcher™ product offers major financial institutions, banks, and fintechs a secure and user-friendly solution to seamlessly switch their default credit or debit card on file at merchants at the request of their cardholders.
For more information, please visit:
https://knotapi.com/
Contact
Head of Growth
Isaac Tebbs
Knot
[email protected]
Knot teams up with Plaid to enable cardonfile switching
