Tink Taps Recharge and Adyen To Roll Out Pay By Bank In Germany
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Pay by Bank is set to launch in Germany following partnership of three major payment service providers.
These include prepaid payments platform Recharge, global fintech Ayden, and Open Banking solution provider Tink. The launch, according to the parties involved, will accelerate the growth of quick transaction services in the country.
The launch of the new service will enable consumers in Germany to easily use the Pay by Bank option at the checkout. The companies believe that the payment process will enable users to easily transfer funds directly between banks in record time.
More Than 10,000 Merchants Now Use The Pay By Bank Service
Payments Director at Tink, Thomas Gmelch, commented on the development. According to him, merchants working within the payment service industry are increasingly having more appetite for Pay by Bank.
He added that Tink has seen a surge in the number of merchants interested in this service, with more than 10,000 merchants preferring to use the service through its PSP partnerships.
Country Manager DACH at Adyen, Hella Fuhmann, also shared his views on the partnership. He noted that the firm’s long-standing partnership with Tink has empowered it to roll out this innovative technology.
With the launch of the new service, customers can now carry out transactions and payments directly from their bank accounts. The goal is to enable these customers to have a seamless transaction and operation within the industry. Fuhmann said the new feature will enable the users to reach their goals quickly.
The Partners Want To Give Customers Full Control Of Their Payment Options
The new feature offers support to those who value convenience, speed, and security in their payment experience, Günther added. Tink has continued to expand its operations across Europe and other region. It is also expanding in the US as the market for payment services continue to garner attention.
Chief Executive Officer of Recharge, Günther Vogelpoel, stated that the goal is to ensure that customers are in full control when it comes to deciding how they pay for goods and services. The firm wants to improve the payment service options for users, ensuring a smooth and seamless payment service for everyone.
This is not the first time Adyen and Tink have collaborated. In October 2022, they partnered to utilize Tink’s Account Check system to enable advanced verification of real-time ownership of accounts.
But the latest launch has introduced Recharge, but the company will be playing a unique role in the partnership. According to the report, Recharge will be focusing on providing Pay by Bank services at a top German financial website, Guthaben.de. the firm’s customers will be allowed to choose Pay by Bankwhen buying vouchers for seamless transactions.
