Adyen and Tink partner with Recharge to introduce Pay by Bank services in Germany

In a move to enhance the payment experience for its customers, Recharge, a global prepaid payments platform, has partnered with Tink and Adyen. This collaboration will allow Recharge's customers in Germany to make payments directly from their bank accounts using the Open Banking payment method, Pay by Bank.

The partnership was first established in September 2020 between Tink and Adyen, with the aim of providing end-to-end payments capabilities, data-driven insights, and financial products in a single global solution. This latest development marks an extension of this partnership to Recharge, a move that is expected to revolutionise the payment landscape in Germany.

Hella Fuhrmann, country manager DACH at Adyen, expressed her excitement about the ongoing partnership with Tink, stating that it allows for the introduction of a new solution that lets customers make payments directly from their bank accounts. She further added that this new solution is designed to make payments easier and help customers achieve their goals faster.

Günther Vogelpoel, chief executive officer of Recharge, echoed these sentiments, stating that this partnership supports those who value security, speed, and convenience in their payment experience. Over 10,000 merchants have now chosen Pay by Bank via Tink's PSP partnerships, according to Thomas Gmelch, payments director DACH at Tink. He also mentioned that the appetite for Pay by Bank among merchants, especially those working with PSPs like Adyen, is growing.

The new solution will initially be offered on Guthaben.de, one of Recharge's flagship websites for the German market. Customers will be able to select the new payment method when buying vouchers. Further reading can be found in the event ticketing provider that has embedded Tink's Pay by Bank at checkout.

This partnership is a significant step forward in the adoption of Open Banking payments in Germany. With the convenience and speed offered by Pay by Bank, it is expected that more and more merchants will adopt this payment method, enhancing the overall payment experience for customers.

Adyen and Tink partner with Recharge to introduce Pay by Bank services in Germany