Yet another MIM data collecting business. OK, congratulations.
Visa Buys Plaid
221–230 of 333 posts
Re: Visa Buys Plaid
#222Plaid is an incredible company and provides a valuable service to their tech partners. That said, their data collection practices are scary. They allow any developer using their software to swallow all of a users banking data - I would love to know how they police bad actors. (Source: https://plaid.com/legal/#privacy-statement )
I'm confused. Isn't that the POINT of Plaid?
Do they more than replace Yodlee nowadays where it's a SDK for people to scrap bank accounts? Like say if your an accounting app and need to import bank statements.
Re: Visa Buys Plaid
#223Plaid is terrible! Both Wells Fargo and Bank of America support API integration, but Plaid chooses to screen-scrape and does not work if you have 2FA enabled. Also, you can't even manually enter your bank information. In other words, even if you pay dearly to Plaid, you may block many users who use some of the top banks in the States! There is a bunch of services I cannot use because they rely solely on Plaid, and I'…
you can't rely on third party api for your business. IMHO scraping is the way to go
Re: Visa Buys Plaid
#224ACH services using any kind of API is and has been a pain today.... Im using intuit and they have no good API, it forces you to do a redirect similar to paypal. You basically have to write your own screen scrape tool to integrate with these people.
Re: Visa Buys Plaid
#225Re: Visa Buys Plaid
#226Plaid is terrible! Both Wells Fargo and Bank of America support API integration, but Plaid chooses to screen-scrape and does not work if you have 2FA enabled. Also, you can't even manually enter your bank information. In other words, even if you pay dearly to Plaid, you may block many users who use some of the top banks in the States! There is a bunch of services I cannot use because they rely solely on Plaid, and I'…
> does not work if you have 2FA enabled
Plaid definitely works with BoA + 2FA, at least as of about a month ago when I had to use it.
Re: Visa Buys Plaid
#227Earlier quoted context omitted.
What do you mean by tax planning? If your company IPOs they will withhold shares for you. Only thing to watch for is depending on your income they might underwithold. There isn’t much more to it than that.
I was taxed at the time of my grant, and then again on the gain when I sell. Had I put them in a self directed IRA i could have bypassed 6 figures of cap gains tax.
The ole mitt Romney.
Re: Visa Buys Plaid
#228Earlier quoted context omitted.
Anyone with a six-figure sale is nearly certain to end up owing more than they withhold (assuming you sell, which you probably should). If a company hasn't IPO'ed, an 83(b) election may also make sense.
The IPO is a taxable event. You’re taxed at the IPO price, and your company should withhold shares based on that price. After whatever lockup you have some fraction of shares remaining. When you sell those and if the price is greater than the IPO price then you have capital gains on whatever shares you still hold. You still owe tax from the IPO. My point is the company will withhold shares from you, but you might nee…
The IPO is not a taxable event.
Re: Visa Buys Plaid
#229Plaid's product is absolutely absurd. Yes, please train your users to type their username and passwords into third party sites because they're given a legitimate looking sign-in box. US Banking infrastructure is so hopelessly bad that this is hack of a business is considered legitimate fin-tech.
My wallet was stolen and before I realized it was gone and could cancel my CCs some dude made like six obviously fraudulent purchases. No Chip and Pin - zero verification. US banking needs to be legislatively hard-reset.
Re: Visa Buys Plaid
#230From the documents at: https://investor.visa.com/events-calendar/Event-Details/2020...
Deal is
* $4.9B cash consideration
* $400m retention equity as VISA RSUs