Get approved to create transfers
When you request access to Transfer in Production, Plaid will collect information from you regarding your business and customer verification processes. If your company is privately held, you will also need to submit identity verification details for a "control person" (such as an executive or senior manager). Your application will typically be reviewed within 1 business day.
Originators vs Platforms
As part of your application, Plaid will confirm what type of Transfer customer you are - either an Originator or a Platform.
The Transfer product described here currently supports Originators only; Platform Payments is still in beta. If you are interested in Platform Payments, contact sales or your Plaid account manager.
What is an Originator?
An Originator initiates ACH payments and is the main beneficiary of these funds. Originators are a party to every transfer and have a direct contractual relationship with the consumer. If you are not contractually obligated to be the main beneficiary of the funds, you are likely a Platform.
Examples of Originators:
- Neobank funding a new user account
- E-commerce website offering ACH as a payment method
- Lender disbursing loan funds to a user
What is a Platform?
A Platform onboards Originators of their own and facilitates money movement between them and their Consumers. Platforms do not have a direct contractual relationship with their Originator's consumers and are not obligated to be paid; they are simply an intermediary.
Examples of Platforms:
- Marketplace website that brings buyers and sellers together
- SaaS provider that sells account funding tools or payment services
- Crowdfunding website for nonprofit organizations