Tink, the Open Banking platform, and Adyen, the Dutch e-commerce payments company, are partnering for an Open Banking-powered payments integration set to launch first in the UK.
Adyen will utilise Tink’s payment initiation technology to enable businesses to access account-to-account payments.
Following its UK launch, Adyen plans to expand into multiple other markets in 2023.
The new partnership builds upon the companies’ existing partnership on Account Check technology, which makes it possible for Adyen’s customers to instantly verify account ownership to streamline pay-outs.
“With our Open Banking solution, shoppers can pay directly from their own trusted banking environment without leaving the checkout journey,” said Edgar Verschuur, head of global acquiring at Adyen. “Partnering with Tink for Open Banking is the latest way we have evolved our technology to deliver on this goal.”
Tom Pope, head of payments and platforms at Tink, added: “We have long admired Adyen as a payments leader, and are proud to be working more closely together to help businesses access next-generation payments.”
He continued: “For the UK specifically, we are excited to be working with Adyen to pioneer Variable Recurring Payments (VRPs) and truly move the market forward.”
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