The partnership will enable SlimPay merchants, including Deezer, EDF, Nespresso, and Vattenfall among others, to provide their customers with a secure and easy way to make open banking-powered digital payments
SlimPay partners with Tink to offer open banking payments. (Credit: Pexels from Pixabay)
SlimPay, a French fintech specialising in recurring payments, has partnered with Swedish open banking platform Tink to simplify account-to-account payments across Europe.
Through the partnership, SlimPay merchants are enabled to provide their customers with a secure and easy way to make digital payments, powered by open banking.
It enables the merchants to set up a direct debit, which allows users to authenticate the payment without sharing sensitive data or leaving the merchant’s app or website.
Tink said that the integration of its technology with open banking solutions enables SlimPay merchants to enhance the payments experience for its customers.
Tink payments and platforms head Tom Pope said: “We’re proud to partner with SlimPay to help give more merchants access to innovative payment solutions.
“Advancements in mobile payments in recent years, combined with the strong development of open banking infrastructure and regulation, make it more compelling for payment providers to adopt open banking payments.
“Our aim is to be the backbone of payments services providers across Europe, to enable inclusive, streamlined, fast-settlement, low-cost payments solutions.”
SlimPay supports merchants across Europe, including Deezer, EDF, Nespresso, and Vattenfall among others, with their subscription payments.
Through the partnership, SlimPay can offer merchants a new open banking solution, dubbed SlimCollect, as an alternative way to set up a direct debit.
SlimPay is one of the first payment platforms to launch SEPA Direct Debit in France and is now using open banking to simplify subscription payments across Europe.
The partnership with Tink will help scale across multiple European markets, and provide a single payment method across the entire SEPA zone, said SlimPay.
SlimPay CEO Jérôme Traisnel said: “Our partnership with Tink means SlimPay can leverage open banking across several markets using one single partner.
“And by launching SlimCollect, we offer merchants a secure account-to-account payments service with which to collect their recurring revenue.
“We’re excited to see what we can achieve with Tink in the short and long term, as open banking goes mainstream throughout Europe.”