Menu

Lemonway and Tink partner to offer smarter digital payments for marketplaces

We’re partnering with French payment service provider Lemonway in its launch of Pay By Bank, a new service that allows its merchants to offer users an easy, secure, and convenient digital payment method. Given Lemonway’s scale and impressive growth, this partnership is another important step in accelerating open banking adoption across Europe – read on to learn why.

TL;DR – Quick summary

  • Tink and Lemonway have entered into a partnership to scale open banking payments throughout Europe.

  • Lemonway is using Tink’s technology to power its new Pay By Bank service, offering its customers a more seamless payment experience compared to many traditional methods.

  • By integrating with Tink, Lemonway can offer open banking powered payments to its entire customer base of marketplaces, with 8 million registered payment accounts (e-wallets).

Lemonway and Tink partner to offer smarter digital payments for marketplaces

Trusted by over 1,400 marketplaces, Lemonway is one of the fastest-growing fintech startups in Europe and leads the way in simplifying marketplace payments. From B2C and B2B marketplaces to crowdfunding and invoice trading platforms, Lemonway helps an increasingly wide range of customers to manage and optimise their payment operations. Lemonway has now formed a partnership with Tink to offer a new payment service powered by open banking that enables even more seamless payments for marketplaces throughout Europe.

Built with Tink’s Payment Initiation, Lemonway’s new Pay By Bank feature provides a smoother experience for the end user compared to many traditional payment methods. This method allows payments to be made directly from the end-user’s bank account without needing to manually enter their details, reducing the steps and improving security. What’s more, the payment journey begins and ends in the same online environment, with minimal redirects and the potential to further optimise conversion.

This new service can radically improve payments in the wider financial services market, too. By using Pay By Bank, online investment platforms can connect directly to their investors' bank accounts, enabling faster onboarding and avoiding delays when adding beneficiaries to an investment account.

Payment services enabled by open banking are becoming increasingly common across Europe and Lemonway has witnessed rapid growth in the last year. Its services are being used to process payments worth 90% more than they were a year earlier. Through this partnership with Tink, Lemonway will be able to offer payments powered by open banking to its growing customer base With over 8 million payment accounts (e-wallets) registered on Lemonway’s platform and counting, this has the potential to help accelerate open banking adoption across Europe.

‘Our ambition has always been to empower marketplaces by enabling them to give their users a safe and frictionless payments experience,’ said Simon Berger-Perrin, Chief Product Officer at Lemonway. ‘By connecting to Tink’s PIS solution, Lemonway can access a complete portfolio of banks across Europe through just one API integration, enabling us to scale Pay By Bank throughout Europe with ease.’

Tink’s partnership with Lemonway is another important milestone to accelerate financial innovation in Europe, and we’re excited to help Lemonway scale their new payment service across the continent.

Interested in learning what open banking technology could do for your business? Get in touch.

TL;DR – Quick summary

  • Tink and Lemonway have entered into a partnership to scale open banking payments throughout Europe.

  • Lemonway is using Tink’s technology to power its new Pay By Bank service, offering its customers a more seamless payment experience compared to many traditional methods.

  • By integrating with Tink, Lemonway can offer open banking powered payments to its entire customer base of marketplaces, with 8 million registered payment accounts (e-wallets).

More in Open banking

3 ways accountancy services can take advantage of open banking
2021-10-26 · 5 min read

3 ways accountancy services can take advantage of open banking

Is open banking a threat to the accounting industry? We don’t see it that way. In fact, we think accounting software providers have a lot to gain by leveraging new open banking capabilities. We take a look at some of the key benefits.

Open banking
How Gimi is promoting financial education for children with open banking
2021-10-19 · 3 min read

How Gimi is promoting financial education for children with open banking

Find out how Swedish startup Gimi is teaching kids about basic personal finance concepts while empowering them to better handle their finances – and how open banking comes into the mix as a fundamental piece of the puzzle.

Open banking
Emerging open banking strategies
2021-10-14 · 5 min read

Emerging open banking strategies

To expose, or consume open banking APIs? That is the question. Discover the four paths financial institutions can take when it comes to their open banking strategy, and our view on what is currently the best route to explore.

Open banking

Get started with Tink

Contact our team to learn more about what we can help you build – or create an account to get started right away.

Contact our team to learn more about our premium solutions or create a free account to get started right away.