SEPAexpress and Tink Collaborate on B2B Payment Solutions

German-based B2B payment solution provider SEPAexpress has partnered with Tink to provide its clients with enhanced payment solutions.

By leveraging Tink’s extensive European coverage for open banking services, SEPAexpress is now able to extend its payments coverage across all 18 markets that Tink serves, the companies said in a Thursday (July 27) press release.

“Leveraging Tink’s data and payment services, we minimize chargebacks for merchants and can offer low-risk payments,” SEPAexpress Chief Product Officer Christoph Pichler said in the release. “Additionally, we can provide instant payments that are being processed within seconds, any day of the year.”

As part of the collaboration, SEPAExpress will use Tink’s application programming interface (API) to provide seamless in-app payments via Pay by Bank, according to the press release.

SEPAexpress has also integrated Tink’s Account Check service, which minimizes user error in setting up direct debits by instantly verifying account ownership, and its Balance Check service, which checks for sufficient funds by verifying how much a user has in their bank account, the release said.

“Working with SEPAexpress presents an opportunity to provide even more merchants with access to innovative payment solutions,” Tink Head of Payments Tom Pope said in the release. “And our partnership highlights the power of bringing both data and payments services together under one roof.”

A variety of Europe-based startups are using open banking technology to better cater to the needs of small and medium-sized businesses (SMBs). Open banking is making it easier for businesses to get paid instantly and empowering SMBs to automate a number of accounting processes, streamlining otherwise lengthy manual processes and creating greater visibility over payments.

Tink’s partnership with SEPAexpress follows some other recent collaborations.

In April, Tink began collaborating with Younited to expand instant credit in Europe, using Tink’s data integration and connectivity across the continent to give Younited up-to-date financial data within sectors for instant processing of credit applications and faster decisions.

A month earlier, in March, Tink joined forces with Italian FinTech ConTe.it Prestiti to streamline loan applications. Tink’s Income Check tool will provide more accurate affordability assessments by letting banks and lenders instantly verify consumers’ incomes through secure, real-time data from their bank account.