Tink and Novalnet enter European partnership for real-time merchant payments
We’re partnering with German payments provider Novalnet to take open banking powered real-time payments to merchants across Europe – starting with Germany and the UK. The new service will revolutionise payments for e-commerce by letting the merchant receive transactions almost instantly. Here’s how.
Tink and Novalnet have entered a European partnership for open banking powered payments.
By integrating Tink’s payment initiation technology, Novalnet is launching a real-time payments feature for merchants.
The feature will enable merchants to receive transactions almost instantly.
Launching in Germany and the UK initially, followed by more European markets during 2021.
Since being founded in Munich in 2007, Novalnet has delivered cutting-edge payment solutions and value-added services to merchants across the globe. From checkout to debt collection, Novalnet is a one-stop-shop for connecting everything needed to build online and offline systems that accept payments and process payouts. Now, Novalnet has partnered with Tink to take real-time payments to merchants across Europe – powered by open banking technology.
By integrating Tink’s payment initiation services (PIS) technology, Novalnet will enhance the payments experience for its merchants, through its state-of-the-art, seamless and secure payment systems. This new feature will revolutionise payments for e-commerce, with the transaction being credited to the merchant’s account almost instantly.
Through our partnership, we want to accelerate the innovation of new solutions in the European payments market. Novalnet will take previous region-specific payment methods and offer a new unified digital payments service to its merchants across Europe. Initially, real-time payments will be launched in Germany, one of the largest ecommerce markets in the EU, and the UK – with more markets to follow during 2021.
‘We expect great things from our strategic partnership with Tink, which is a significant development for both parties,’ said Emmanuel Kirse, COO of Novalnet. ‘With Tink, Novalnet can offer a new set of open banking related solutions in Europe. The new opportunities offered by this partnership will help both Tink and Novalnet grow together, along with our merchants.’
Our partnership with Novalnet is a big step for Tink in the German market, and we are excited to work together to bring new, innovative payments services to merchants across Europe. At the end of 2020 Tink committed to expanding its payment initiation services from five to 10 markets, fuelled by an €85 million investment round, and we’re proud to be delivering on this promise by fully launching Tink’s PIS services in the German market.
Want to know what open banking technology could do for your business? Check out what you could build with Tink.
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