Long Take: Plaid's payments ecosystem & Affirm's decoupled debit card reveal embedded finance Trojan Horse

Gm Fintech Architects —

Today we are diving into the following topics:

• Summary: In this analysis, we want to update the discussion of card networks, money movement, and the potential existential threat — or perhaps evolution — to existing infrastructure. It continues the thread on articles like Is Plaid cheap at $5.3 billion for $500 billion Visa? and Mar…