ClearBank and Plaid Partner to Streamline UK Bank Payments

[Fintechnews Switzerland]

ClearBank has partnered with Plaid. The collaboration aims to enable faster and more secure Pay by Bank experiences for businesses and consumers in the UK.

For businesses, the partnership simplifies the sending, receiving, and reconciling of open banking payments through ClearBank’s virtual accounts and direct access to the UK Faster Payments Service (FPS).

Virtual accounts allow businesses to match incoming payments to individual users or transactions, improving reconciliation and reducing manual effort.

With ClearBank’s cloud-native, real-time infrastructure, Plaid can support faster and more reliable pay-ins and payouts, helping companies provide smoother checkout and account-funding processes.

Consumers will also benefit from faster and more predictable bank payments.

Whether making payouts or transferring funds between accounts, users can expect a seamless and secure experience supported by ClearBank’s regulated infrastructure.

Mark Fairless, Group Chief Executive Officer of ClearBank, said:


Mark Fairless

“By combining ClearBank’s cloud-native infrastructure with Plaid’s open banking connectivity, we’re unlocking potential for businesses to deliver faster, more reliable and secure payment experiences.”

Zak Lambert, Head of Product, Europe, Plaid, added:


Zak Lambert

“Pay by Bank is no longer a niche option. Adoption is rising quickly, especially among younger consumers who expect instant, secure, and low-friction ways to pay. To meet that demand, businesses need reliable real-time payment infrastructure. ClearBank’s technology helps Plaid deliver instant, secure, and cost-efficient bank payments so companies can better serve their customers’ needs.”

Featured image credit: Edited by Fintech News Switzerland, based on image by gpointstudio via Freepik

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