eCollect partners with Tink to streamline receivables management across Europe
Leading receivables management platform eCollect is partnering with Tink to simplify and digitise invoice, dunning, and collection payments across Europe. Their integration with Tink is already live in Germany (with more major European markets to follow), helping ensure hassle-free cash management for eCollect’s customers and a low-friction experience for end users – read on to learn how.
eCollect is partnering with Tink to use payment initiation to simplify the receivables management process.
They’ll use Tink’s technology to enable end users to pay their invoice and associated fees directly from their bank account with minimal friction.
By integrating with Tink, eCollect can offer open banking-powered payments across Europe as a way to streamline invoicing, dunning, and collections.
eCollect enables businesses around the world to manage receivables and cash flow with a digital-first approach from the initial invoice to the final payment. It does so by creating a tailor-made customer journey according to their life situation, location, and demographic factors. Their new solution, built with Tink, will enable end users to easily pay their invoices and fees directly from their bank account with minimal friction, wherever they are in Europe, just by clicking a link or scanning a QR code.
This helps eCollect deliver on its mission to let customers focus less on receivables, and more on their business, by making cash management as efficient and automated as possible – while removing any unnecessary friction for the end user.
Typically, traditional collection services rely on manual bank transfers in order to collect money owed. By using open banking-powered payments, eCollect can minimise the risk of human error through manual data entry and remove friction-heavy redirects, maximising payment completion. This also streamlines the operational process, saving time and reducing transaction costs for businesses
Tink’s pan-European coverage means eCollect also saves time and resources on opening local accounts in several countries, and can instead facilitate cross-border, multi-currency payments more easily.
Partnering for performance and scale
With the partnership live in Germany, the new solution has become one of the top three most-used payment methods on its platform in just a few months. Soon, the partnership will expand to more key European markets, simplifying the collections process for businesses and consumers alike right across Europe.
‘Joining forces with Tink means we can continue to make receivables management as simple and painless as possible for our customers, enabling them to worry less about cash flow and instead focus on growing their business,’ said Marc Schillinger, CEO of eCollect. ‘Tink’s technology was the perfect fit for us in terms of performance and scale, and we’re looking forward to expanding throughout Europe.’
Cyrosch Kalateh, Regional Director for the DACH region at Tink, added: ‘Our partnership with eCollect shows how open banking is an increasingly compelling alternative to traditional payment methods. By simplifying the payment experience we can make it work better for all parties involved, no matter the use case, and we’re excited to see the impact this partnership has in Germany and beyond.’
eCollect choosing to partner with Tink shows how we’re making progress on our mission to improve how finance works for everyone as Europe’s leading open banking platform, and we’re looking forward to growing our collaboration with eCollect in the months to come.
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