PayPal is making a second strategic investment in Tink, and together, their commercial agreement is extending across all countries in the EEA, to leverage PSD2 and Open Banking opportunities, and continue the development of Open Banking technology.
Back in the summer of 2019, Tink and PayPal came together to expand Open Banking technology, with PayPal investing in Tink, and using our open banking tech.
Fast forward to now, and the commercial relationship is extending across Europe, to include all countries within the European Economic Area (EEA). PayPal is implementing Tink’s Open Banking and account aggregation services into some customer user experiences, to leverage the opportunities of PSD2 and open banking. This is supported by a second strategic investment in connection with Tink’s latest €90 million investment round, announced in January 2020.
‘PayPal is one of the world’s leading fintech companies, serving more than 330 million consumers and merchants in more than 200 markets worldwide. So we are honoured to have been selected to help this global leader, and extend our relationship with them following this new agreement and strategic investment,’ said Daniel Kjellén, co-founder and CEO of Tink. ‘As Europe’s leading open banking platform, we’re looking forward to continuing to support PayPal as it extends and enhances its services across the whole of Europe,’ he added.
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