Tink, Adyen partner to bring Pay by Bank to Vodafone customers in Germany

Tink, A Visa Solution, and Adyen, the global financial technology platform of choice for leading businesses, have announced a partnership with Vodafone, a leading telecoms company, to offer their customers in Germany the option to pay their prepaid tariff and outstanding post-paid balances using Pay by Bank.

Pay by Bank is the commonly-used term for the Open Banking-powered payment method that allows consumers to quickly transfer money directly from one bank account to another.

Michael Reinartz, director innovation at Vodafone, said: “We’re pleased to work with two leading fintechs in Tink and Adyen to offer this new payment method for some of our customers in Germany. The simplicity and security of Pay by Bank provides a great option.”

The Pay by Bank payment method is facilitated by the long-standing partnership between Tink, a market-leader Open Banking platform, and Adyen, who provide end-to-end payments capabilities, data-driven insights, and financial products in a single global solution.

Thomas Gmelch, head of commercial central Europe at Tink, said: “Ever since our first discussions with Vodafone at an event in Dusseldorf, we’ve been excited at the potential of this partnership and look forward to working with them alongside our long-time partner Adyen.”

Hella Fuhrmann, country manager DACH at Adyen, added: “We are delighted to introduce Pay by Bank for Vodafone customers thanks to our partnership with Tink – enabling payments directly from the bank account. We are seeing a growing need for this convenient payment method.

“With the integration, we support companies in making the checkout as user-oriented as possible and thus sustainably increasing conversion.”

Further reading: Tink, Adyen team up with Recharge to offer Pay by Bank in Germany