Account to account transfers are stuck in the 20th century. When Eric and Andrew first started building bank transfer products at Plaid, they were shocked by the cost, speed, and user experience of legacy bank transfers. The biggest challenge legacy bank transfer providers must overcome is trying to build 21st century bank transfers on 20th century payment systems (ACH).
Eric and Andrew want to change the way money is moved, to put the consumer back in control by unlocking the ability to “push” funds directly from their bank account. With new payment networks spinning up for the first time in decades, the time is ripe to help consumers retake control, to empower them to move their money instantly. It is time to help fintechs bring down the cost, complexity, and risk of payments.
We are on a mission to reduce transaction risk and take a merchant’s payments costs close to zero. With Push Cash, you can’t push money you don’t have, you can’t push money from a closed account, and you have to authenticate to Push. We will make account-to-account transactions instant, safe, and simple for consumers and merchants.
If you would like to join us on this journey, please reach out!
-Eric and Andrew