Dutch fintech giant Adyen is embedding technology from Tink to enable its customers to offer open banking payments.
Adyen will tap Tink’s payment initiation technology to enable businesses to access account-to-account payments, beginning in the UK with more markets to follow in 2023.
The agreement builds on a partnership Adyen and Tink already have for Account Check technology, that lets Adyen’s customers instantly verify account ownership to streamline payouts.
Edgar Verschuur, head, global acquiring, Adyen, says: "With our open banking solution, shoppers can pay directly from their own trusted banking environment without leaving the checkout journey."
Tom Pope, head, payments and platforms, Tink, adds: "With the scale of Adyen’s reach, our partnership will rapidly accelerate the global adoption of open banking powered payments."