Case Study: Placid Express achieves faster, lower-fee, and more secure remittances with Plaid

Placid Express - Customer Case Study

Placid Express, a remittance company serving customers across South and Southeast Asia, faced a classic digital-payments dilemma: how to offer fast, low-cost transfers without sacrificing fraud protection. After launching online transfers in 2014, the company needed better fraud verification and a way to avoid forcing customers to choose between speed (costly card payments) and cheap but slow ACH micro-deposits. Placid Express turned to Plaid and its instant bank verification suite (including Auth, Identity and Balance) to address these challenges.

Plaid’s Auth, Identity and Balance products were implemented to instantly authenticate accounts, confirm ownership, and check real-time balances, enabling faster approvals without high card fees. Since integrating Plaid, Placid Express increased instant ACH approval rates by more than 80%, achieved almost zero ACH chargebacks for Plaid-validated customers, cut micro-deposit support queries by 50% and reduced fast-track requests by 60%; customers who use instant verification return at a 95% rate versus 70% otherwise. Plaid also proved easier and less expensive to integrate, improving user experience and operational efficiency.

Placid Express

Ahsan Choudhury

Chief Technology Officer