Today in digital banking: Plaid simplifies A2A

Today, in the field of digital banking, the acquisition of Capricorn Digital by MFS Africa is underlined and stimulated by the Baxi payment platform. Additionally, Zelle and Fiserv have collaborated to bring real-time payments to minority depositories, and Plaid cleans account-to-account payments with a team of partners across a myriad of verticals.

Zelle Partners with Fiserv to Provide Real-Time Payments to MDIs

Peer-to-peer (P2P) payments startup Zelle has partnered with Global FinTech Fiserv to bring real-time payments to minority depository institutions (MDIs), starting with a rebate to eligible MDIs who sign up for the Zelle network. Banesco USA, which is a community bank providing financial services to various communities, is the most recent MDI to participate.

Banesco USA customers will find Zelle integrated with their BanescoMobile banking app, allowing them to transfer funds to other people across the United States and make transfers using mobile phone number or address recipient’s email, within minutes if both people are using Zelle.

Plaid builds an ecosystem of partners to simplify A2A payments

Plaid has put together a team of almost payments partners that will bring frictionless account-to-account (A2A) financial transactions, according to a blog post by Plaid’s revenue manager Paul Williamson.

Plaid’s new ecosystem includes payment companies, technology companies, and Banking as a Service (BaaS) providers in North America and Europe. Plaid is also partnering with and Marqeta to further advance connected payment experiences for FinTechs using Plaid.

MFS Africa acquires parent company Baxi Capricorn Digital

MFS Africa has agreed to acquire Nigerian digital solutions and distribution company Capricorn Digital, the parent company of Baxi, for an undisclosed amount. Baxi helps users make utility bill payments, airtime purchases, data subscriptions, withdrawals, and money transfers.

Capricorn Digital will add to its staff of over 90,000 agents across Nigeria with the agreement. MFS Africa, founded in 2009 by Beninese Dare Okoudjou, is the largest FinTech interoperability hub in Africa, with connections to approximately 320 million customers in more than 35 African countries.



On: Forty-seven percent of U.S. consumers avoid digital-only banks due to data security concerns, despite considerable interest in these services. In Digital Banking: The Brewing Battle For Where We Will Bank, PYMNTS surveyed over 2,200 consumers to reveal how digital-only banks can boost privacy and security while providing convenient services to meet this unmet demand.

Michael J. Birnbaum

Leave a Reply

Your email address will not be published.