26 July 2023, London: SEPAexpress, a specialised payment provider in account-to-account payments, has partnered with Tink, Europe’s leading open banking platform, to enhance its payment solutions.
Partnering with Tink allows SEPAexpress to offer both open banking data products and payments services to its clients across Europe, showing the value of using a number of Tink’s solutions together.
The German-based B2B payment solution will leverage Tink’s API to provide Pay by Bank for seamless in-app payments, simplifying the payment process to improve the customer experience and optimise conversion.
SEPAExpress has also now integrated Tink’s Account Check and Balance Check services to optimise its direct debit product and improve success rates.
Account Check works by instantly verifying account ownership using real-time data straight from a user’s bank account, minimising user error in setting up direct debits and significantly streamlining the user experience.
Balance Check uses up-to-date account data to verify how much a user has in their bank account in a matter of seconds. This can be used pre-purchase to check whether there are sufficient funds or post purchase to check for sufficient funds prior to a monthly direct debit collection.
By using Tink’s pan-European connectivity, SEPAexpress is able to extend its open banking payments coverage across all 18 markets that Tink serves. This supports merchants to do business across multiple markets while remaining agile to provide individual solutions to its customers.
Christoph Pichler, Chief Product Officer at SEPAexpress commented: "We're thrilled to partner with Tink, which is a perfect fit for SEPAexpress. Their vast European coverage for open banking services extends our reach, particularly in the Nordic countries. Leveraging Tink's data and payment services, we minimise chargebacks for merchants and can offer low risk payments. Additionally, we can provide instant payments that are being processed within seconds, any day of the year. This partnership strengthens our commitment to exceptional services and innovative solutions."
Tom Pope, Head of Payments at Tink added:“Working with SEPAexpress presents an opportunity to provide even more merchants with access to innovative payment solutions. And our partnership highlights the power of bringing both data and payments services together under one roof. Open banking offers many key benefits such as a seamless user experience, low transaction fees and low fraud rates. Our aim is to be the backbone of payments services providers across Europe, to enable inclusive and streamlined payments solutions.”
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Tink is Europe’s leading open banking platform that enables banks, fintechs and merchants to develop data-driven financial services. Through one API, Tink allows customers to access aggregated financial data, initiate payments, enrich transactions, verify account ownership and build personal finance management tools. Tink connects to more than 3,400 banks that reach over 250 million bank customers across Europe. Founded in 2012 in Stockholm, Tink became a wholly owned subsidiary of Visa in 2022. Tink’s 500 employees serve more than 300 customers in 20 European markets, out of offices in 13 countries. We power the new world of finance. For more information, visit tink.com.
SEPAexpress provides trusted and seamless account-to-account payments. Our best-in-class cloud-based API and platform offers Direct Debit, Open Banking with fully integrated risk and mandate management. As a white-label technical payment service provider of account-to-account payment methods and being part of one of the fastest growing banking ecosystems and network, allows us to offer the exciting mix of growth, better margins, increased security, higher conversion, improved cash flow, reduced risk and happier customers.