Kinguin taps Volt to offer Pay by Bank in key European markets

By Gloria Methri

Volt, the global real-time payments platform, has announced a new partnership with Kinguin, a global marketplace for video games. Leveraging open banking technology, the partnership enables Kinguin’s 18 million users to securely purchase games and in-game goods using ‘Pay by Bank’.

Made available across France, the Netherlands, Germany and the UK, Volt’s ‘Pay by Bank’ solution allows users to check out directly from their online banking environment, where their payment is pre-populated and ready to approve with a single tap. Unlike cards, ‘Pay by Bank’ doesn’t involve any manual data entry – meaning an end to mistakenly typed card details and any details being compromised.

Open banking payments are gaining particular traction in northern Europe. According to Juniper Research, the total transaction value of open banking payments will be $330 billion in 2027 – a 479% increase from the $57bn recorded in 2023.

For providers like Kinguin, integrating ‘Pay by Bank’ means faster settlements because payments are routed account to account on the SCT and SCT Inst rails in Europe and Faster Payments in the UK—they settle in real-time.

Commenting on the partnership, Faheem Bakshi, Kinguin’s VP of Payments, said, “Offering the latest in payments technology is vital to our commitment to delivering an optimised user experience in each of our live markets. With the rapid growth of open banking payments in Europe, it became imperative to find a provider that could offer customers across some of our key markets a harmonised Pay by Bank experience. Volt was best placed to deliver on this aim, and we are already seeing it emerge as a preferred payment option.”

Thomas Pinter, Volt’s SVP Global Digital, said, “We are delighted to support Kinguin’s mission to provide customers with the best possible payment experience. We pride ourselves on our optimised payment flow, bank connectivity and geographic coverage, so it’s fantastic to see merchants such as Kinguin recognise this. We look forward to seeing Pay by Bank drive conversion and speed up settlement times across the UK and northern Europe.”