Together, they enable billers to reach consumers via every channel to pay bills and reminders directly from their bank apps - resulting in faster, cheaper, more accurate and final payments.

In many countries, billing, dunning and collections outside of direct debit are still a challenge for industries such as insurance, utilities, telecommunications, and credit. Bank transfers can be time-consuming for the consumer and can lead to delays and mistakes. More traditional online payment methods often come with higher transaction fees, increased operational complexity, and the risk of chargebacks.

By combining Omnichannel Payment Requests from Serrala with Tink’s Payment Initiation Services (PIS), billers and consumers can now get the best of both worlds. An easy online experience for consumers, and many benefits for billers: more people pay faster, the resulting SEPA Credit Transfers are cheap and will automatically match. Consumers will also be able to schedule a payment at a future date, eliminating many reminders.

With the combined solution, billers can redesign the customer journey for any payment interaction through email, text messages, WhatsApp, portals, apps and even paper. This includes not just PIS, the mechanism to push the details of a requested payment into a consumer’s bank app for authorization, but also the process to set up a direct debit mandate online.

“Billers have been waiting for this”, says Marko Kling, VP Solution Architecture at Serrala. “By partnering with Tink, we can help reduce billers' payment-related costs with a solution that enables consumers to pay their bills quickly and accurately using their preferred payment channel, resulting in seamless payment experience for all.”

Caroline Lanslots, Senior Business Development Manager at Tink added: “Our channel partnership with Serrala perfectly combines our PIS capabilities with Serrala’s tooling and payments expertise, to optimize end-to-end payment flows for billers. We look forward to building on this channel partnership to enable Serrala to take open banking powered payments to its customers across Europe.”

Serrala’s payment requests are live in more than 20 European countries and reach millions of consumers to facilitate billions of Euros in payments every year. Its industry-leading cash application capabilities enable confirmation of successful payment execution to both biller and consumer. Tink’s open banking platform is live in 18 markets across Europe, and the combined solution with Serrala is already available for countries like France, Italy, Portugal and the United Kingdom.