Partnership between Tink and Adyen aims to introduce Pay by Bank service for Vodafone customers in Germany
Vodafone, Tink, and Adyen Team Up to Offer Seamless Bank Payments in Germany
In a move to enhance the payment experience for its customers in Germany, leading telecoms company Vodafone has partnered with global financial technology platforms Tink and Adyen to offer Pay by Bank as a payment option.
Pay by Bank is an Open Banking-powered payment method that allows consumers to transfer money directly from one bank account to another, providing a simple and secure option for some of Vodafone's customers in Germany. This partnership focuses on the payment of prepaid tariffs and outstanding post-paid balances.
The integration of Pay by Bank is aimed at making the checkout process user-friendly and increasing conversion. Tink, a leading open banking platform, and Adyen, an established global payment processor, bring complementary strengths to the partnership. Tink provides the bank connectivity infrastructure, while Adyen handles payment processing, enabling Vodafone to deliver reliable, fast, and secure bank payments to its customers.
Michael Reinartz, the director of innovation at Vodafone, expressed pleasure about the partnership with Tink and Adyen. Thomas Gmelch, head of commercial central Europe at Tink, expressed excitement about the partnership with Vodafone. Hella Fuhrmann, country manager DACH at Adyen, expressed delight about the introduction of Pay by Bank for Vodafone customers.
The partnership between Tink, Adyen, and Recharge aims to provide a convenient payment method. This collaboration cements Vodafone’s position as a digitally forward telecom provider in Germany, ready to meet evolving consumer payment preferences with modern, compliant fintech solutions enabled by Tink and Adyen.
The growing need for a convenient payment method, as stated by Hella Fuhrmann, is being addressed by this strategic integration of cutting-edge fintech capabilities. The partnership illustrates the growing adoption of open banking payment methods across Europe, responding to regulatory changes and consumer demand for more bank-centric payment options, as noted by the rise in direct bank transfers in markets like Germany.
Overall, the Tink-Adyen-Vodafone partnership represents a significant step forward in the German telecom sector, driving digital payment innovation and enhancing payment convenience for Vodafone customers.
- This partnership between Tink, Adyen, and Vodafone focuses on offering a seamless payment experience for Vodafone customers in Germany by introducing Pay by Bank, an Open Banking-powered payment method.
- Tink, an established open banking platform, and Adyen, a global payment processor, bring complementary strengths to the partnership, with Tink providing the bank connectivity infrastructure and Adyen handling payment processing.
- The integration of Pay by Bank is aimed at making the checkout process user-friendly and increasing conversion, providing a simple and secure option for some of Vodafone's customers in Germany.
- The growing need for a convenient payment method and the rise in direct bank transfers in markets like Germany are being addressed by this strategic partnership, which illustrates the growing adoption of open banking payment methods across Europe.
- The collaboration between these global fintech players cements Vodafone’s position as a digitally forward telecom provider in Germany, prepared to meet evolving consumer payment preferences with modern, compliant solutions.
- The Tink-Adyen-Vodafone partnership represents a significant step forward in the German telecom sector, driving digital payment innovation and enhancing payment convenience for customers.
