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November 15, 2018

Carvana uses Plaid to drive profitability

Kathleen McGuirk

Updated on October 29, 2019

In allowing customers to browse, finance, and trade cars exclusively through its website, online used-automotive dealer Carvana offers a whole new way to shop for a vehicle. But despite its many advantages, prior to 2017, Carvana’s digital payment process needed modernizing. Up to that point, the then-four-year-old company had relied on traditional ACH to clear down payments, which created inconveniences for customers and inefficiencies for Carvana.

After extensively researching the fintech market and even considering a DIY approach, the Carvana team selected Plaid for its ease of integration, superior usability, and projected cost savings.

Learn how Plaid helped Carvana realize lucrative operational efficiencies, paving the way for its bright future in the used car industry.