Serrala and Tink bring PSD2 payments to European account holders

Serrala, the global automation, and financial payment software company, and Tink, Europe’s leading public banking platform, have entered into a channel partnership for open banking technology.

Together, they enable billers to reach consumers through any channel to pay bills and direct debits directly through their banking applications, resulting in faster, cheaper, and more accurate final payments.

Debit, hospitality, and debt collection continue to pose challenges for industries such as insurance, utilities, telecommunications, and credit in many countries. Bank transfers can take a long time for consumers, causing delays and errors. More traditional online payment methods often come with higher transaction costs, operational complexity, and a higher risk of reimbursement.

By combining Serrala’s omnichannel payment requests with Tink’s Payment Initiation Services (PIS), billers and consumers can now get the best of both worlds. A simple online experience for the consumer and many advantages for the accountant: the more people pay, the faster, the cheaper the resulting SEPA transfers are and are automatically reconciled. Consumers can also schedule a payment later, eliminating the need for any reminders.

The combined solution enables Factors to redesign the customer journey for every payment interaction via email, SMS, WhatsApp, portals, apps, and even cards. This includes not only PIS, the mechanism for entering the details of a requested payment into the bank’s consumer app, but also the process of setting up an online direct debit mandate.

“The billers have been waiting for it,” says Marko Kling, VP of Solution Architecture in Serrala. “By partnering with Tink, we can lower billing costs with a solution that enables consumers to pay their bills quickly and accurately through their preferred payment channel, resulting in a seamless payment experience. Continuity for everyone. “

Caroline Lanslots, Senior Business Development Manager at Tink, added: “Our channel partnership with Serrala seamlessly combines our PIS capabilities with Serrala’s payment tools and experience to optimize the end-to-end flow of payments. We are delighted to use this channel partnership to allow Serrala to accept open bank payments to its customers in Europe. “

Serrala’s payment requests are present in more than 20 European countries and reach millions of consumers, enabling billions of payments to be made every year. With its main cash request functions, it can confirm the payment to the issuer and the consumer. Tink’s open banking platform is active in 18 European markets and the combined solution with Serrala is already available for countries such as France, Italy, Portugal, and Great Britain.

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