Home » Tink and Novalnet AG enter partnership for open banking powered payments

Tink and Novalnet AG enter partnership for open banking powered payments

by LLT FINANCE REPORTER
17th Jun 21 12:53 pm

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

Novalnet AG is launching a real-time payments feature for merchants across Europe, to further enhance the payment experience enabled by Novalnet’s state-of-the-art, seamless and secure payment systems. This new feature will revolutionise payments for e-commerce, with the transaction being credited to the merchant’s account almost instantly.

By partnering with Tink 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, Novalnet and Tink aim to accelerate the innovation of new solutions in the European payments market.

Founded in 2007 and headquartered in Munich, Novalnet delivers cutting edge payment solutions and fully automated value-added services, from checkout to debt collection, in one place. Novalnet’s solutions and services are available worldwide, connecting everything necessary to build online and offline systems that accept payments and process payouts.

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.”

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