From partners to competitors: What Stripe’s latest move means for Plaid

Earlier today, payments giant Stripe announced a new product that fills in some significant gaps in its play to be the financial services layer for merchants and other businesses whose models are based on enabling transactions, as reported by TC’s Ingrid Lunden.
That new product is called Financial Connections and the company says it will give Stripe’s customers a way to connect directly to their customer’s bank accounts, to access financial data to speed up or run certain kinds of transactions.
If this sounds familiar, it’s because it is pretty much exactly what another fintech giant, Plaid,

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