Plaid vs Mollie: The Data Privacy & Security Face-off
Discover how US-based Plaid and Netherlands' Mollie safeguard your financial data. Learn which provider offers superior security and peace of mind.
Should You Switch to Mollie?
Gain full GDPR compliance and better data privacy with Mollie.
Mollie lacks some advanced features like transaction data analysis.
Switch if privacy is a priority; stay with Plaid for more features.
At a Glance
US data laws
GDPR protected
Plaid
freemium
Mollie
freemium
Privacy & Compliance Comparison
Critical data sovereignty factors at a glance
| Criteria | Plaid | Mollie |
|---|---|---|
Server Location | US (AWS), EU (optional) | EU |
GDPR Compliance | Partial (SCCs) | Full |
Open Source | ||
E2E Encryption | Enterprise only | Optional |
Data Portability | Partial | Full export |
CLOUD Act Notice
Plaid is a US company and must comply with CLOUD Act data requests, even for data stored in EU data centers. Mollie is not subject to US jurisdiction.
Plaid
🇺🇸Plaid Inc.
Mollie
🇳🇱Mollie B.V.
US Data Storage
Data subject to US CLOUD Act and may be accessed by US authorities
EU Data Protection
Data protected under GDPR with EU-only data residency
Certifications & Compliance
No certifications listed
Reasons to Switch
- ✓Mollie offers multiple payment methods like iDEAL and SEPA Direct Debit.
- ✓No setup fees with Mollie, unlike Plaid's potential integration costs.
- ✓Mollie's dashboard provides real-time analytics for transaction tracking.
- ✓Mollie is fully GDPR compliant, ensuring data protection in the EU.
Things to Consider
- !Migrating from Plaid to Mollie may require significant data transfer efforts.
- !Mollie lacks Plaid's detailed transaction data and identity verification features.
- !Learning curve for developers to adapt to Mollie’s API compared to Plaid.
Migration Overview
Depends on data size and complexity
Quick Steps
Create Mollie account and configure settings
Export and prepare data from Plaid
Import data, test integrations, and migrate users
Note: Mollie supports multiple payment methods and offers easy integration, which can be beneficial for apps needing diverse payment options.
Other alternatives to Plaid
Ready to make the switch?
Start using Mollie today and take control of your data privacy.