Open Banking platform Tink has been chosen by PostNord Strålfors, the largest distributor of invoices in the Nordic region, as its Open Banking payments technology provider.
PostNord Strålfors, which is part of parcel and logistics provider PostNord Group, will use Tink’s payment initiation technology to add Open Banking-powered payments to its Nordic omnichannel offering.
Mattias Norén, head of strategy and business development at PostNord Strålfors, which operates in Denmark, Sweden, Norway and Finland, said that it handles hundreds of millions of invoices annually for its Nordic customers.
“With Open Banking (PSD2), we see it as a natural development of our offer to now also be able to offer our customers simple, compliant and user-friendly payment solutions integrated in our already existing channels,” Norén added.
PostNord Strålfors’ new partnership with Tink aims to improve the user experience by “streamlining” the payments process for consumers, reducing the time it takes, and also providing cost efficiency for the company or invoice sender receiving the payment.
Tom Pope, head of payments and platforms at Tink, said: “We are proud to be partnering with one of the market leaders in the Nordics, to deliver a payments service that will be a touchpoint for millions of people and transform the way everyday bills and invoices are paid.
“We are at a tipping point for the mass adoption of Open Banking payments across Europe, and partnerships like this one with PostNord Strålfors is further proof of that fact.”
Tink, which was founded in 2012 in Stockholm, became a wholly owned subsidiary of Visa this year. It now serves more than 300 banks and fintechs in 18 European markets, out of offices in 13 countries.
It was announced that Visa would buy Tink in June 2021, for €1.8 billion, with Tink retaining its management team, brand and headquarters.