With the Tink Pay by Bank option for merchant checkouts, Payop is fully operational and has had significant growth thus far. Between January and December of 2023, the amount of accomplished payments more than doubled.

The decision to use the open banking system was made, according to Payop CEO Anastasiia Semenkova: "We chose Tink to test open banking technology for e-commerce payments when we decided to do so. Though we gave a lot of providers some thought, Tink's product line and customer-first philosophy won us over.

Although we had high hopes for this potential collaboration going in, it ended up being far more than we had anticipated. With just three clicks, Tink offers safe payments, demonstrating the promise of open banking technologies.


Payop offers a distinctive checkout solution with many payment options, and it works with a wide range of businesses, from tiny e-commerce stores to huge corporations.

Through this partnership, Payop and Tink seek to increase and encourage the use of this payment mechanism throughout Europe. Payop merchants in France, Germany, the Netherlands, Spain, and the UK can accept payments via bank.


"The European market is very competitive," Semenkova continued. Every nation offers a wide range of payment choices. However, we discover that once customers use Pay by Bank, they never return to using other ways. Without a steady and dependable partner, Payop would not be able to witness the rise in Pay by Bank adoption that it is currently experiencing. It's Tink for us. Tink continues to expand its coverage of nations and banks while maintaining a high-quality API.

Make a bank payment.

Using the "Pay by Bank" online payment option, customers can buy products and services by sending money straight to the seller's account from their bank account.
 

By offering a low-cost, safe, and streamlined payment experience, this account-to-account payment option helps companies stand out from the competition.

"We've already seen impressive volume growth in our collaboration with Payop, and we are proud to support them in their Pay by Bank solution," said Ian Morrin, Tink's head of payments and platforms. Pay by Bank is an addition to the existing payments network.

"It goes beyond simply adding an additional payment option at the register; it involves providing customers with a payment method that satisfies all of their needs and expectations, including familiarity, speed, dependability, and convenience."