Account Aggregators/API's - which provide credit card bill due-dates and allow for cross-party payments?

Question

I understand there are a number of account aggregators out there which allow businesses to get access to customers's transaction data (Plaid, Yodlee, Intuit Customer Account API, open to others...). I'd like to know which ones DO or DON'T also allow for:

1. Determining the DUE-DATE of a customer's credit card balance.
2. Making PAYMENTS across accounts and parties.

Answer 1

Response from Plaid (as of 9/22/2014): No/Not yet and No

"1) Within a customer's credit information, does Plaid provide their credit card bill due-date? what would be the appropriate call for that?

Currently no, but it's something we may add in the future.

2) Does Plaid offer anything by way of making payments or money transfers across accounts? (I'm assuming 'no,' but just want to confirm)

We do not, however we can help with the authorization of accounts for ACH & Wire transfers. Feel free to reach out directly for more information."

Answer 2

Response from Yodlee

1) Determining the DUE-DATE of a customer's credit card balance

Yes , Yodlee do provide credit card bill due-date though their API.

2) Making PAYMENTS across accounts and parties.

Yodlee does have a Bill-Pay product but it's not available to API customers as of today.

Answer 3

I've been working with a loan repayment API and ran into this issue as well with Plaid. For US banks only, it seems that there are three items you need for this system:

• The bill due date (and amount) for the credit card
• The banking information. At a minimum, a user's routing and account number (which Plaid can provide) and the credit card's banking information (their routing and account number for direct payments).
• An ACH processor or US bank that will let you upload a NACHA file. This is the step that actually moves the money from one account to the other. Expect lots of compliance paperwork from the partner that you use.

It's a complicated world when you try to pay on behalf of a user. Outside of programming, get a good lawyer who knows bank law!