Open Banking platform Tink has expanded its Open Banking services to five new markets in Europe, citing rising consumer demand for “seamless digital experiences”.
Tink’s payment initiation services (PIS) product is now live in the Netherlands, Norway, Estonia, Finland and Latvia, taking the total number of European markets it operates in to 18.
Tom Pope, head of payments and platforms at Tink, said: “We’re seeing a surge in consumers using Open Banking payments across Europe, because of the dramatically better user experience it offers.
“Tink’s payments technology makes it simple for consumers at checkout, allowing them to quickly and seamlessly make payments via the institution they trust the most – their bank. Open Banking payments are secure, frictionless, and put businesses in control of the user experience.
“With our solution, merchants are discovering how their payments experience can be a source of competitive advantage.”
Speaking to Open Banking Expo recently, Pope said that while “customer experience is king”, payments is an area often “not often thought about as a source of competitive advantage”.
“For me, PIS is only ever going to be useful to anyone if it… streamlines the user experience and makes it so delightful for consumers that it increases the traffic and revenue for the merchant,” he told Open Banking Expo.
In March this year, PostNord Strålfors, which is part of parcel and logistics provider PostNord Group, chose Tink to add Open Banking-powered payments to its Nordic omnichannel offering.