Tink, Adyen team up with Recharge to offer Pay by Bank in Germany

Open Banking platform Tink and fintech platform Adyen have formed a partnership with global prepaid payments platform Recharge to be able to offer its customers in Germany the option to Pay by Bank at checkout.

Recharge will initially offer Pay by Bank on one of its flagship websites for the German market, Guthaben.de, with customers able to select the new payment method when buying vouchers.

The Open Banking payment method allows consumers to transfer money directly and quickly from one bank account to another.

Günther Vogelpoel, chief executive officer of Recharge, said: “Bringing Pay by Bank to our platform with Tink and Adyen, starting with our German customers on Guthaben.de, supports those who value security, speed, and convenience in their payment experience.”

Tink and Adyen’s existing partnership will facilitate the integration of Pay by Bank at Recharge.

Tink, which is a wholly owned subsidiary of Visa, formed an Open Banking payments partnership with Adyen which provides end-to-end payments capabilities, data-driven insights, and financial products in a single global solution, back in 2022.

Thomas Gmelch, payments director DACH at Tink, said: “The appetite for Pay by Bank among merchants, especially those working with PSPs like Adyen, is really growing.

“At Tink we’ve seen recently that over 10,000 merchants have now chosen Pay by Bank via our PSP partnerships.”

Hella Fuhrmann, country manager DACH at Adyen, added: “Our ongoing partnership with Tink empowers us to introduce this new solution that lets customers make payments directly from their bank accounts.

“This innovation is designed to make payments easier and help our customers achieve their goals faster.”

Further reading: Event ticketing provider embeds Tink’s Pay by Bank at checkout