Payrix is dedicated to enhancing systems and improving processes to stay ahead of compliance and regulatory changes, while providing a world-class experience to you and your customers. As such, we will be making a change to Plaid, the service your customers use to seamlessly capture their bank account and routing number on the merchant onboarding form by entering their credentials. 

What this means for you:

  • If you’re using the Plaid integration within the Payrix boarding form: We will do the lift required.

  • If you are not using Plaid integration within your own boarding form or transaction page: There is no lift required.  

  • If you are using Plaid integration within your own boarding form or transaction page: You will have to update the integration to support OAuth requirements, otherwise Plaid will stop supporting some key banks per the schedule below. 

    • Chase: August 1, 2022 

    • Bank of America: August 1, 2022 

    • Wells Fargo: August 17, 2022 

    • USAA: August 17, 2022 

    • Charles Schwab: November 15, 2022 

  • If the upgrade is not made, you will lose access to Plaid’s legacy integration and any attempts on the legacy integration will fail.  

  • If your customer attempts to connect with one of the banks using Plaid after the listed date, they will have to upload a voided check. 

What lift is required to continue using Plaid and remain compliant? 

  • Supporting OAuth flows will require that you migrate to Link Tokens and update your Link integration according to this OAuth guide.  

  • This recorded webinar discusses the benefits of OAuth and the process to launch OAuth. Your backend integration with the Plaid API should otherwise remain unchanged.

Partners using Payrix onboarding form: Payrix will address all requirements.  

Partners NOT using Payrix onboarding form: See the requirements below you will need to address. 

For Partners looking to integrate Plaid via API, visit the Plaid Integration Guide for API Partners.

For Partners using their hosted pages and using a common link for merchant onboarding: 

  1. Do Linked token and OAUTH related changes as prescribed by Plaid. 

  2. Payrix will create a new subaccount (new user login and new API credentials) for each of these partners and partners can generate their API keys. Storing the session data before invoking Plaid. 

  3. Calling the Bank using OAUTH (Pop-up page to allow user login) 

  4. Retrieve the session data and re-populate the onboarding form when customer is redirected to the page. 

  5. Partner will need to register the URL in the portal (Example: "https://<partnername>/Onboarding"). This is a requirement from Plaid. 

  

For Partners using their hosted pages and creating unique links per merchant for merchant onboarding: 

  1. Do Linked token and OAUTH related changes as prescribed by Plaid 

  2. Payrix will create a new subaccount (new user login and new API credentials) for each of these partners and partners can generate their API keys. 

  3. Storing the session data before invoking Plaid. 

  4. Calling the Bank using OAUTH(Pop-up page to allow user login) 

  5. Retrieve the session data and re-populate the onboarding form when customer is redirected to the page. 

  6. Partner will have to register each unique URL in dashboard (Example: "https://<partnername>/Onboarding/mercht1") .i.e. Every merchant URL needs to be registered in plaid portal before sending that to the merchant for onboarding. This is a requirement from Plaid and not Payrix.