2 May 2024: TransferGo, the global fintech empowering a world on the move, has partnered with Tink, a market-leading payment services and data enrichment platform, to add Pay by Bank to its payments offering. TransferGo provides more accessible financial services by making international money transfers simpler, faster and lower cost. It operates in 160 countries and has more than 7 million customers.
Pay by Bank is now live for TransferGo’s customers in the UK, introducing a new way to more securely and quickly send money internationally. Pay by Bank is an embedded payment method powered by open banking that allows consumers to initiate payments directly from their bank account. With zero data entry and fewer redirects, this account-to-account payment method provides a low-cost, streamlined experience by letting users authenticate and initiate payments in a couple of clicks.
"Our mission is to create a fairer world for global citizens. Providing a simple, affordable and secure way to send money internationally, Pay by Bank by TransferGo helps bridge the gap for individuals who may have previously been excluded from accessing or participating in financial services," said Simon Moran, Chief Commercial Officer at TransferGo. "With the Tink partnership, we can offer a trustworthy, secure, and speedy solution, making international payments easier and creating more favourable conditions for global financial inclusivity."
Ian Morrin, Head of Payments and Platforms at Tink, commented: "Pay by Bank is one of the most frictionless ways to pay online. There is an enormous opportunity for Pay by Bank to make a tangible difference to those sending money internationally as it offers a simple way for customers to transfer money more securely, quickly and at low-cost.
"At Tink, we have always aspired to make financial services more accessible by providing consumers with the most innovative payment solutions. Partnering with TransferGo, we can support them in their mission to remove barriers for their customers by offering a payment method that improves and simplifies the transfer of money; this is another step towards changing financial services for the better."
— ENDS —
Notes to editor
Contact details:
Linda Winder, PR & Communications Director, press@tink.com, +44 7809265941
About Tink:
Tink is a market-leading payment services and data enrichment platform. Through more than 6,000 connections to banks, Tink provides payments, banking, and lending solutions that power the new world of finance – whether that’s making account-to-account payments, onboarding new users, making better risk decisions or creating engaging money management tools. A wholly owned subsidiary of Visa, Tink was founded in Stockholm in 2012 as a pioneer of open banking.
Today, Tink is present in 19 markets with an enhanced fintech platform that goes beyond its open banking beginnings, to serve many of the world’s largest financial institutions. Tink enables its partners to take processes that are filled with friction and replace them with data-driven experiences that helps eliminate complexity for millions of consumers across the globe. For more information visit tink.com.
About TransferGo:
TransferGo is the global fintech creating a fairer world for millions of global citizens by offering simpler, more affordable financial services. Celebrating over a decade of innovation, TransferGo continues to break down financial barriers, supporting over 7 million customers across 160 countries while remaining profitable. With a strong focus on financial inclusion, TransferGo's mission is to make the world fairer by transforming how people and businesses send and receive money across borders. With its headquarters in London and Vilnius, TransferGo employs more than 380 people across Europe.