Payop partners with Tink to add Pay-by-Bank in Europe

pay op and Tink We have partnered to accelerate the adoption of bank payments as a payment method across Europe.

Payop has added Tink’s bank payment services to the e-commerce checkout options it offers to retailers in Europe, the companies said in a press release emailed to PYMNTS on Wednesday (March 27).

According to the release, when Payop tested Tink’s bank payment option from January to December 2023, the number of payments made increased by more than 2.5 times.

“Tink shows us the potential of open banking technology to make secure payments in three clicks,” said Payop CEO. Anastasia Semenkova said in a release.

“The European market is very competitive,” Semenkova added. “There are many payment options available in each country. But once consumers try bank payments, they find it hard to go back to other methods.”

Payop provides checkout solutions with multiple payment methods for merchants of all sizes, from small e-commerce stores to large enterprises, the release said. Our network of global payment service providers covers over 500 payment methods, 170 countries, and 100 currencies.

The new bank payment option offered by Tink allows consumers to make online purchases by initiating payments directly from their bank account to the merchant’s account, providing a secure and low-cost experience, according to the release. That’s what it means.

“Bank payments complement the current payments ecosystem.” Ian MorinTink’s Head of Payments and Platforms said in a release. “It’s not just about creating another payment option at checkout, it’s about providing consumers with a payment method that delivers everything they want and expect: ease of use, speed, reliability, and convenience. to provide.”

Tink was acquired by visa In 2021, Visa announced it would combine its network with Tink’s. open banking These features will provide European consumers and businesses with simpler, more reliable and secure financial tools.

In another development of this technology, Tink announced on March 20 that it has partnered with a Berlin-based payment processor. micropayment To enable that company’s European-based sellers to offer bank payment At checkout.

This partnership will enable Micropayment merchants to offer this payment method in Germany, Austria, and Switzerland.

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