Tink powers instant payments for UK savings app Chip

By Vriti Gothi

Tink, a Visa Solution platform, has partnered with Chip in a move designed to simplify how users add money to their savings accounts.

The agreement will see Chip integrate Tink’s Payment Initiation Services (PIS) into its platform, enabling customers to transfer funds securely and instantly from their bank accounts without leaving the app.

The collaboration reflects the increasing demand for digital-first financial tools that make saving money faster, easier and more transparent. By embedding open banking technology at the heart of its payment flows, Chip aims to remove common barriers to saving, such as manual bank transfers and delays in processing, and instead provide its growing user base with a more streamlined experience.

Chip has established itself as one of the UK’s leading wealth and savings apps, with a strong focus on helping people build their savings automatically and make smarter decisions with their money. The new partnership with Tink aligns with Chip’s wider strategy to expand its product capabilities through trusted fintech partnerships and continue developing features that respond to evolving customer expectations.

For Tink, which was acquired by Visa in 2022 and has since scaled its open banking services across Europe, the agreement reinforces its commitment to making financial data and payment services more accessible and secure for consumers and businesses alike. The company’s PIS technology is designed to enable real-time payments, which can help businesses like Chip reduce operational friction, increase customer satisfaction and encourage greater engagement with digital savings tools.

The partnership comes as open banking adoption continues to gain momentum in the UK and Europe. Recent industry reports indicate that more consumers are using open banking-enabled services to manage their finances, access tailored products and move money quickly and securely.

Looking ahead, both Tink and Chip have indicated that this initial integration may pave the way for additional open banking features and enhancements, supporting their shared vision of putting customers firmly in control of their finances through smart, connected technology.

Alex Latham, Chip Co-Founder, said, “It’s brilliant to partner with Tink, whose open banking solutions provide a fast and secure option for our users adding money to their savings on the Chip app. We’re looking forward to working with the Tink team to promote these payment options, with a few more exciting updates coming soon.”

Tink’s Head of Payments, Ian Morrin, said, “Chip have been on a tremendous growth journey in recent years, and we’re delighted to become part of their success story by bringing more payment options to their user base.”