Berlin-based payment processor Micropayment is partnering with Tink, a payment services and data enrichment platform, to enable Europe-based merchants to offer pay-by-bank at checkout.
Micropayments works with merchants across industries, including fundraising and nonprofit, digital services, gaming and entertainment, according to a Wednesday (March 20) news release. The company primarily operates in Germany, Austria and Switzerland, also known as the DACH region.
Tink is a wholly owned subsidiary of Visa and provides payments, banking and lending solutions, the release said.
Micropayment is introducing Tink’s pay-by-bank product for merchant checkouts, with a goal of growing the adoption of this payment method across Europe, according to the release. Through the partnership, Micropayment merchants can now offer pay-by-bank across the DACH region.
“The DACH region is a key market for us, and Tink’s dedication to serving merchants across various industries has been invaluable,” Thomas Knoth, chief sales officer at Micropayment, said in a statement. “Their payment method offers consumers the speed, reliability, and security they expect, making it a seamless experience for both merchants and consumers. We are delighted to be working with Tink and look forward to continuing our successful partnership.”
Thomas Gmelch, DACH payments director at Tink, remarked on the benefits of the partnership.
“The DACH region presents an enormous opportunity for pay-by-bank to make a tangible difference to merchants serving all kinds of industries. Collaboration with Micropayment has got off to an excellent start and we are gaining traction in a highly competitive landscape, by offering merchants with a payment method that offers everything a consumer has come to expect — familiarity, speed, reliability and convenience.”
The partnership comes as more consumers are turning to pay-by-bank.
As PYMNTS Intelligence has found, 36% of consumers in the U.S. favor this payment method, according to insights detailed in “Tracking the Digital Payments Takeover: Consumer Familiarity Controls Account-to-Account Payment Growth.”
Convenience also adds to consumer satisfaction, particularly in peer-to-peer (P2P) use cases, according to the study. Additionally, consumers cited their simplicity and ease of use as a reason for favoring this payment method. Moreover, security-oriented users said that it allows them to avoid sharing sensitive financial information, reducing the risk of fraud.
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