Paysend Collaborates with Tink to Revolutionize Open Banking Payments for Seamless Transactions
In a groundbreaking move for the financial technology sector, Paysend has teamed up with Tink, an open banking platform owned by Visa, to enhance its payment services across international markets. This partnership is aimed at delivering a faster, more seamless, and secure payment experience for Paysend’s customers, as reported by FF News.
Enhancing Payment Services with Open Banking
By integrating Tink’s robust open banking infrastructure, Paysend is set to improve its capabilities in providing direct bank transfers, streamlining processes, and expanding its reach into new markets. Known for its commitment to simplifying cross-border payments, Paysend operates a unified global payments ecosystem designed to minimize the complexity and cost associated with international money transfers.
Paysend’s Global Impact
- Presence in over 170 countries
- Facilitates instant and affordable money transfers
- Focuses on reducing transaction complexities and costs
Tink: A Leader in Open Banking
Tink, acquired by Visa, stands as one of Europe’s premier open banking platforms. It provides financial institutions, FinTechs, and developers with access to crucial financial data and enables secure payment initiation through its APIs. With extensive bank connectivity across Europe, Tink empowers businesses to create intelligent, data-driven financial services.
Benefits of the Paysend and Tink Integration
The collaboration between Paysend and Tink introduces several enhancements for users, including:
- Broader banking coverage
- Faster transaction times
- Increased security and reduced fraud risk
Customers in select regions can now authenticate and fund transfers directly from their bank accounts, eliminating the need for manual data entry and multiple security prompts. This not only accelerates the payment process but also minimizes the chances of errors.
Expert Insights on the Collaboration
James Cresswell, Paysend’s Global Head of Network & Partnerships, stated, “At Paysend, we’re constantly innovating to make cross-border money movement as simple as possible. Integrating with Tink expands our open banking capabilities, ensuring our customers can fund their transfers instantly with ease and confidence.”
Ian Morrin, Tink’s Head of Payments, expressed excitement about the partnership, noting, “We’re thrilled to partner with Paysend to bring secure open banking payments to more customers. Open banking is transforming how people manage their money, and this collaboration ensures Paysend customers benefit from a more intuitive payment experience.”
For more information about Paysend’s services and how they are revolutionizing the payment landscape, visit their official website at Paysend.
