Menu

Serrala partners with Tink to offer improved bill payments across Europe

3 min read|Published September 23, 2021
Serrala partners with Tink to offer improved bill payments across Europe

We’re entering into a channel partnership with Serrala, the global financial automation and payments company, to bring payment initiation technology to bill payments, simplifying the billing process and reducing transaction fees for billers while improving the payment experience for millions of consumers across Europe.

TL;DR – Quick summary
  • Tink and Serrala have entered into a channel partnership to bring open banking payments to billers throughout Europe.

  • Serrala is using Tink’s technology to enable B2C billers to accept fast, low-cost account-to-account payments on any digital channel.

  • By integrating with Tink, Serrala will enable its customers to offer a smoother journey for their end users, improving how bills are paid across more than 20 countries in Europe for millions of consumers.

TL;DR – Quick summary
  • Tink and Serrala have entered into a channel partnership to bring open banking payments to billers throughout Europe.

  • Serrala is using Tink’s technology to enable B2C billers to accept fast, low-cost account-to-account payments on any digital channel.

  • By integrating with Tink, Serrala will enable its customers to offer a smoother journey for their end users, improving how bills are paid across more than 20 countries in Europe for millions of consumers.

Serrala offers a seamless portfolio of solutions to manage all inbound and outbound payments, treasury processes, and related data and documents in any IT landscape. Today, Serrala’s payment request solution is live in over 20 countries, reaches millions of European consumers, and facilitates billions of euros in payments every year.

By integrating with Tink, Serrala will enable its customers to offer open banking powered payments on any digital channel, giving consumers a simpler, faster option when paying their bills.

Most billers today rely on a combination of direct debit, bank transfers, and card payments in offering their services, but each option comes with less-than-ideal compromises. Setting up a direct debit or making a bank transfer can be time-consuming for the consumer and are both prone to errors and delays. Traditional online payment methods, meanwhile, often come with higher transaction fees, increased operational complexity, and the risk of chargebacks.

Serrala will use Tink’s Payment Initiation to augment its own omnichannel payment request solution, bringing the benefits of open banking to bill payments. Billers will be able to accept lower cost payments, reduce their risk, and simplify their internal processes. Consumers will receive an easier, faster, and more integrated payment experience with more options for how they pay, such as paying immediately or scheduling a payment for a future date.

Payment services using open banking technology are rapidly gaining ground across Europe, with invoice and bill payments being one of the most widespread use cases. Our partnership with Serrala is further evidence of how payment initiation services can offer a compelling alternative to traditional payment methods as of today and has the potential to help accelerate open banking adoption across Europe.

‘Billers have been waiting for this,’ said Marko Kling, VP of Solution Architecture at Serrala. ‘By partnering with Tink, we can help reduce billers' payment-related costs while improving the customer experience – and thus improve their business.’

Caroline Lanslots, Senior Business Development Manager at Tink added: ‘Our channel partnership with Serrala perfectly combines our PIS capabilities with Serrala’s tooling and payments expertise, helping to optimise end-to-end payment flows for billers. We look forward to building on this channel partnership to enable Serrala to take open banking powered payments to its customers across Europe.’

Tink’s partnership with Serrala is another important milestone on our mission to spur financial innovation as Europe’s leading open banking platform, and we’re looking forward to helping Serrala scale their improved payment services across Europe.

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

More in Use cases

Why invoices are the perfect use case for open banking payments
2022-06-16 · 7 min read

Why invoices are the perfect use case for open banking payments

What makes open banking such a good match for invoice settlement, and how can this product-market fit help lead to mass adoption? We take a look at a use case to find out.

Use cases
How Lumify cut their loan application time by half with open banking
2022-04-01 · 3 min read

How Lumify cut their loan application time by half with open banking

Lumify partners with Tink to improve customer experience. With the help of open banking, Lumify has cut loan application processing time by more than half – with a 40% increase in success rate. Here’s how.

Use cases
Mobify partners with Tink
2022-01-27 · 3 min read

Mobify partners with Tink to create more value for its users

Payment and invoicing platform Mobify wanted to expand their offering and give Finnish consumers an even more comprehensive – and personalised – finance management experience. Here’s how they’re partnering with Tink to do it.

Use cases

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.