Tink and Zervant partner for faster invoice payments
Tink has teamed up with Zervant, one of Europe’s fastest-growing invoice platforms, to enable open banking payments as a payment option platform-wide. The partnership is helping 100,000+ SMEs across Europe to get paid faster while cutting out card processing fees and reducing operating costs.
Tink partners with Zervant as the default payment provider.
Over 100,000 SMEs will now be able to access faster bank payments.
Many entrepreneurs will now benefit from reduced fees and lower operating costs.
The core of Zervant’s mission is helping entrepreneurs succeed. Hundreds of thousands of small businesses across 8 European countries rely on them to send out invoices and get paid on time. Previously offering only card payments and manual bank transfers, Zervant is now enabling open banking payments as an option on every invoice powered by Tink. The partnership is already live in the Nordics and will expand to the UK, Germany, France, and Belgium in the coming weeks and months.
Traditional ways of paying invoices like card payments, direct debits, and bank transfers each come with their own drawbacks: high interchange fees, a heavy operational workload, or slower settlement times that can take up to 5 days. A key part of Zervant’s promise to SMEs is modernising and simplifying the invoicing experience, so they can focus on what matters most – their business. Zervant turned to open banking as a way to make the payment experience as frictionless as possible while keeping their customers’ costs down by removing unnecessary fees.
Invoice settlement is, in many ways, the ideal use case for open banking payments. There’s no need to enter your card or bank details manually and the payment is initiated in real-time, increasing conversion. Plus, it’s highly secure – every payment is authenticated with the bank using a fingerprint or Face ID. And with Tink’s Payments product, all invoice details like the amount, reference, and recipient account are pre-filled as part of the payment flow, minimising the risk of human error.
‘With Zervant’s focus on empowering entrepreneurs by providing the best invoicing experience possible, integrating open banking payments is a perfect next step. We are excited to deliver a hassle-free payment experience for our customers all over Europe by minimising payment friction, together with Tink,’ said Brian Brorsbøl, CEO at Zervant.
‘Partnering with a leading invoice platform like Zervant shows how this is already a well-established use case for pay-by-bank with clear product-market fit,’ said Tom Pope, VP of Payments at Tink. ‘Their rapidly-growing SME customer base will benefit from faster, simpler, and more cost-effective invoice payments and we’re excited to see this rolled out across Europe.’
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