Knot Teams Up With Plaid for CardonFile Switching
In a press release dated June 19th, 2024, Knot, an innovative fintech platform specializing in card-on-file management solutions, has announced a strategic partnership with Plaid, a leading data network powering the digital financial ecosystem. As a preferred referral partner for card management services, Knot will now offer its CardSwitcher™ product to over a hundred of the largest merchants in the United States through its merchant connectivity infrastructure.
Through this collaboration, Plaid will direct customers to Knot to streamline their card management processes, enabling users to easily update their credit or debit cards on various online merchant platforms with just a few taps. Knot’s CardSwitcher can be customized to meet the individual payment preferences and needs of Plaid users.
Rory O’Reilly, CEO of Knot, expressed excitement about the partnership, stating that it perfectly aligns with Knot’s mission to provide a seamless and user-centric financial ecosystem. As the Preferred Provider for card-switching, Knot looks forward to offering Plaid’s customers the best solution through CardSwitcher™.
CardSwitcher, integrated into a cardholder’s banking or fintech product, connects to a vast global network of merchants, simplifying the process of updating payment information across multiple platforms with just a few clicks. This automation reduces the inconvenience associated with manual updates and offers benefits to card issuers, merchants, and end users alike:
1. Automated Updates: Ensuring uninterrupted service and a seamless user experience with automatic card information updates.
2. User-Centric: Providing users with control over where their cards are stored and how their payment information is shared.
3. Merchant-Friendly: Helping merchants reduce transaction declines and improve customer retention by maintaining up-to-date payment information.
Knot is a global merchant connectivity platform that enables users to securely manage transactions with hundreds of merchants daily. Its flagship product, CardSwitcher™, offers major financial institutions, banks, and fintechs a secure and user-friendly solution to switch default credit or debit cards on file at merchants at the request of cardholders.
For more information, please visit Knot’s website at https://knotapi.com/.
Contact:
Isaac Tebbs
Head of Growth
Knot
[email protected]
