back Back

Tink and Novalnet team up for open banking powered payments

By Megha Bhattacharya

June 17, 2021

  • Europe
  • Tink
Share

German full-service payment provider Novalnet AG, and European open banking platform Tink, have partnered to bring a new open banking payment solution to the European payments market.

By partnering with the open banking provider for payment initiation services (PIS) technology, Novalnet will take previous region-specific payment methods and offer a new unified digital payments service to its merchants across Europe. Novalnet’s real-time merchant payments feature will be launched initially in Germany and the United Kingdom. The solution will then be integrated across other European markets during 2021. Through this partnership, the companies aim to accelerate the innovation of new solutions in the European payments market.

Emmanuel Kirse, COO of Novalnet, commented, “We expect great things from our strategic partnership with Tink, which is a significant development for both parties. With Tink, Novalnet can offer a new set of open banking related solutions in Europe. The new opportunities offered by this partnership will help both Tink and Novalnet grow together, along with our merchants.”

Cyrosch Kalateh, Regional Director for the DACH region at Tink added, “Our partnership with Novalnet is a big step for Tink in the German market, and we are excited to work together to bring new, innovative payments services to merchants across Europe. At the end of 2020 Tink committed to expanding its payment initiation services from five to 10 markets, fuelled by an €85 million investment round. We are proud to add Germany to this list by announcing we have now fully launched Tink’s PIS services in this market.”

Previous Article

June 17, 2021

Libro Credit Union launches Yooli, a new money management app powered by MX

Read More
Next Article

June 17, 2021

4 roles governments can play to help small businesses flourish in a post-COVID world

Read More







Advertise with us



IBSi Daily News Analysis

Core retail banking trends

May 20, 2022

Europe

Rethinking retail banking strategies, What to watch in 2022

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

Today

Xendit raises $300m Series D funding round

Read More

Today

MarketFinance raises £100m from Deutsche Bank to support new lending to the UK SMEs

Read More

Today

Current launches platform API; collaborates with Plaid to deliver Open Finance Solutions

Read More

Related Reports

Sales League Table Report 2021

£ 1,500.00 / year

Know More
Emerging Technologies in Capital Markets

£ 500.00

Know More
Global Digital Banking Vendor and Landscape Report Q1 2022

£ 1,500.00 / year

Know More
Wealth Management & Private Banking Systems Report Q1 2022

£ 1,500.00 / year

Know More
Treasury and Capital Markets Systems Report 2021

£ 1,500.00 / year

Know More