Tink and Adyen partner for open banking payments

3 min read|Published October 05, 2022
Tink and Adyen partner for open banking payments

Today we’re proud to announce a partnership with Adyen, the global financial technology platform, to power its new pay-by-bank solution in a major step forward for the adoption of open banking powered payments.

TL;DR – Quick summary
  • The global financial technology platform Adyen is partnering with Tink to power its new pay-by-bank solution and offer instant bank payments to its customers.

  • The partnership helps accelerate the shift towards open banking payments, which are secure, fast, and more convenient in comparison to traditional payment solutions.

  • Adyen has launched pay-by-bank in the UK first with plans to expand to multiple markets in 2023.

TL;DR – Quick summary
  • The global financial technology platform Adyen is partnering with Tink to power its new pay-by-bank solution and offer instant bank payments to its customers.

  • The partnership helps accelerate the shift towards open banking payments, which are secure, fast, and more convenient in comparison to traditional payment solutions.

  • Adyen has launched pay-by-bank in the UK first with plans to expand to multiple markets in 2023.

Adyen has a long track record of powering seamless payment journeys for leading businesses and continuously innovating to meet their needs. Through its partnership with Tink, Adyen is now enabling its customers to offer instant bank payments as a fully white-label solution, letting consumers authenticate and pay directly from their bank account without any intermediate steps.

Open banking payments are quickly moving to the mainstream as businesses seek easier and more cost-effective ways of accepting payments. Given the size of Adyen’s global customer base, the partnership with Tink helps to accelerate this shift. Adyen has launched pay-by-bank in the UK first with plans to expand to multiple markets in 2023.

 ‘With our open banking solution, shoppers can pay directly from their own trusted banking environment without leaving the checkout journey,’ said Edgar Verschuur, Head of Global Acquiring at Adyen. ‘Our aim is to always innovate to meet consumer needs by providing a breadth of convenient, fast, and secure payment options. Partnering with Tink for open banking is the latest way we have evolved our technology to deliver on this goal.’

‘We have long admired Adyen as a payments leader, and are proud to be working more closely together to help businesses access next-generation payments,’ said Tom Pope, Head of Payments and Platforms at Tink. ‘With the scale of Adyen’s reach, our partnership will rapidly accelerate the global adoption of open banking powered payments. For the UK specifically, we are excited to be working with Adyen to pioneer VRP, and truly move the market forward.’

Adyen’s launch of pay-by-bank using our Payments technology, builds upon the existing partnership with Tink for real-time account verification using Account Check, letting Adyen customers automate the setup of payouts and reduce payment errors. We’re looking forward to expanding the partnership while working together with Adyen on making pay-by-bank services even more seamless.

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