How does Plaid make money?

Question

Justin Parker · Accepted Answer

Plaid makes money via fees that customers pay to use its service. While Plaid mainly operates on a free model, they have paid service plans for customer purchases. This is how Plaid generates the majority of its revenue.

Free Plaid model. The free model allows companies to build up to 100 connections to different financial institutions. It also boasts these features:
- Transaction services (access to detailed transaction histories)
- Authentication services (this grants access to users' bank accounts)
- Balance services (real-time account balance verification)
Many users of Plaid choose to use their free model, and those companies that want to establish more than 100 connections and access other features can opt for a paid subscription to Plaid.
Paid Plaid model. Several different fees can occur when customers opt into the paid service model. For example, a one-time fee occurs whenever a new user account is connected to the company's Plaid API.
A subscription fee is also paid for each transaction produced on the platform, like when a user makes a payment via Plaid.
Companies also incur fees when they issue a request that is considered against the API. This is done to check a user's account balance.

How does Plaid make money?

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