European ticketing services and live entertainment provider CTS Eventim has added Pay by Bank to its checkout process via a new partnership with payment services and data platform Tink.
Pay by Bank is now live at checkout for CTS Eventim customers in Austria, Germany, the Netherlands, Poland and the UK, and has confirmed plans to expand to other markets through 2024.
Each year, CTS Eventim systems and platforms sell more than 300 million tickets globally through physical box offices, online portals and mobile apps.
Tink’s Open Banking payment offering lets users authenticate and initiate payments directly from their bank account into a seller’s account with minimal data entry and fewer redirects.
Sören Kuthning, head of ecommerce finance operations at CTS Eventim said: “We’ve integrated Pay by Bank from Tink to offer our customers a seamless, secure, and instant way to pay directly from their bank accounts.
“This enhances the checkout experience by reducing payment failures and processing times. The additional option not only improves customer satisfaction but also supports us in delivering an efficient and reliable service.”
According to Thomas Gmelch, DACH payments director at Tink, consumers demand simplicity and speed in their payment processes, particularly when purchasing tickets for “sought-after” events.
“Pay by Bank delivers precisely that, offering one of the smoothest online payment experiences,” Gmelch said.
“Partnering with Eventim allows us to show the true value of Pay by Bank. With this payment method, the only prerequisite is a bank account, opening up the possibility of serving millions of new and frequent Eventim customers.”
Back in May, global fintech TransferGo partnered with Tink to add Pay by Bank to its payments offering, making it live for customers in the UK.
Earlier in the year, Berlin-based payment processor Micropayment teamed up with Tink to introduce Pay by Bank.
The collaboration between Micropayment and Tink resulted in the launch of Tink’s Pay by Bank product for merchant checkouts.
