We had the chance to hear about some of the exciting payments solutions being developed at Plaid when we sat down with Chris Corbett, Payments Product Lead, at FTT Payments in May.

Chris is responsible for looking after the full payments suite. That includes one-time payments (payment initiation), recurring payments (largely VRP in the UK) and the enterprise payments solutions.

Exciting developments on the near horizon

Chris pointed to some of the specific developments and products he thinks will deliver real value for their clients.

In his view, most exciting is the enterprise payment suite which includes both the payment side and settlement accounts,  where open banking enables them to do ‘some really cool things’ for customers. They can confirm the payment has landed and settled, enable instant refunds and all of the associated payments reconciliation associated with the account. That means that the full lifecycle of the payment is taken care of and it simplifies the process for their customers and clients.

Commercial VRP is another exciting development that is opening up a whole bunch of new use cases.

Things are getting fast and holistic

In Chris’s view we are moving towards instant payments for every single flow. In some cases, that has been doable (with faster payments) for some transactions (ie a one time payment). However, when it comes to things like refunds on cards, which can take in excess of three days, or delays to processing direct debits or changes to mandates, there is a lot of room for improvement and opportunity to deliver better outcomes for both businesses and end-users/consumers.

Chris also pointed to how the richness of the data provided by Plaid plays an important role in creating more insight than other payment providers can offer.  Decreasing the number of ‘mouths to feed’ allows them to do more for lower cost and with greater security. Listen to the full interview below for the full benefit of Chris’s payments nous.

If you want to keep pace with the fast moving payments space, there is no better place than the Payments Stage at the FTT Fintech Festival. Register now and prepare for a plethora of payments insights and connections on the 10th and 11th November 2025.