Photo credit © Monnaie de Paris
(Boursier.com) — Tink, a market-leading payment services and data enrichment platform, formalizes its collaboration with Payop, an international payment processor and aggregator, to add Pay by Bank to its payment options. Payop works with a wide variety of merchants (both small e-commerce stores and large enterprises) to whom they offer a single payment solution with numerous payment options.
Payop already offers Tink’s Pay by Bank option to its merchants at the checkout stage, and has seen significant growth – including a 2.5-fold increase in the number of payments made between January and December 2023. Payop and Tink are working together to promote and democratize this payment method throughout Europe. Pay by Bank is therefore available to Payop merchants throughout Europe – and in particular in Germany, Spain, France, the Netherlands and the United Kingdom.
Pay by Bank is an online payment method that allows consumers to purchase goods and services by initiating payments directly from their bank account to the seller’s account.
This so-called “account-to-account” payment method provides a secure, low-cost experience for consumers, and allows merchants to be ahead of their competition.
Anastasiia Semenkova, CEO of Payop, said about the collaboration with Tink: “When we decided to test open banking technology for online payments, we without hesitation thought of Tink. Many providers were considered , but it is Tink’s product offering that impressed us the most, particularly for what it allows for the consumer. We were particularly enthusiastic about this partnership, the results of which went beyond our expectations. Tink showed us the true potential of open banking: making secure payments in just a few clicks.”
“The European market is very competitive, especially because there are many payment options in each country. But once consumers try the Pay by Bank option, many make it their preferred payment method. The democratization of use of Pay by Bank, particularly observable at Payop, would be impossible without a stable and reliable partner. Tink is the same partner which, through its high quality API, allows us to have access to new banks and to expand opportunities for other countries.
Mathieu Péré, Sales Director, Payments & Platform at Tink, adds: “We are already seeing impressive volume growth through our collaboration with Payop. We are proud to support them with Pay by Bank. This option complements the current ecosystem payments – it is not just about creating a new payment option during check-out, but about offering consumers an option that embodies everything they expect: speed, reliability and simplicity “.
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