Tink expands open banking payment services to five new countries
Tink has expanded its open banking payment services to five new European countries.
The open banking platform said its Payment Initiation Services product is now live in the Netherlands, Norway, Estonia, Finland and Latvia so the firm now operates in 18 markets in total across Europe, connecting to over 250 million bank customers.
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Open banking payments involve a transfer of money from one bank account to another with the user journey embedded within the payment service provider and payment authorised using the bank’s own system.
Tink said its payments expansion to new markets reflects the increasing demand from consumers for seamless digital experiences.
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“We’re seeing a surge in consumers using open banking payments across Europe, because of the dramatically better user experience it offers,” said Tom Pope, head of payments and platforms at Tink.
“Tink’s payments technology makes it simple for consumers at checkout, allowing them to quickly and seamlessly make payments via the institution they trust the most – their bank.
“Open banking payments are secure, frictionless, and put businesses in control of the user experience. With our solution, merchants are discovering how their payments experience can be a source of competitive advantage.
“Our aim is to be the backbone of payments services providers across Europe, and the expansion of Tink’s payment services into these five new markets is a significant step towards achieving this goal.”
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