Adyen deepens its partnership with Tink, adding open banking payments

Listed payments giant Adyen is partnering with open banking provider Tink in order to offer open banking payments to its customers.

The team-up adds payment initiation to the existing relationship between the two fintechs, with Tink already providing an Account Check service to Adyen customers for verifying account ownership.

“With the scale of Adyen’s reach, our partnership will rapidly accelerate the global adoption of open banking powered payments,” said Tom Pope, Tink’s head of payments and platforms.

Adyen’s launch of open banking payments will start in the UK, with plans to expand into multiple markets in 2023.

“Our aim is to always innovate to meet consumer needs by providing a breadth of convenient, fast and secure payment options,” said Adyen’s head of global acquiring Edgar Verschuur.

“With our open banking solution, shoppers can pay directly from their own trusted banking environment without leaving the checkout journey.”

This significant customer win for Tink comes six months after Visa completed its €1.8bn acquisition of the open banking provider, and after other high-profile wins this year like Revolut.