Paysend partners with Tink to augment Open Banking payments

By integrating Tink’s solutions, Paysend aims to improve several aspects of its payment process, focusing on the coverage, speed, and payment quality of its customers across key markets. 

With Tink’s secure Open Banking technology, Paysend users in certain regions can now authenticate and transfer funds directly through their bank without manually entering details or facing several security steps. This option transforms the payment experience, augmenting it and making it faster and more secure.

Currently, fintech company Paysend covers payments from 170 countries worldwide, unifying 20 billion endpoints into one open and instant payment network. Through this collaboration with Tink, Paysend plans to extend its Open Banking payments services into new markets. This addition allows more customers to fund international transfers with fewer complexities.

Key benefits for Paysend users

Through this partnership with Tink’s network, Paysend users can benefit from:

• A more extensive coverage as more banks and financial institutions are now supported;

• Quicker transactions so they can authenticate with bank and fund transfers without manual entry;

• Improved security through direct bank authentication that reduces errors and fraud risk;

• Optimal experience as fund transfers are made directly through smartphones with fewer steps.

Insights for Open Banking market in 2025

As Open Banking continues to change how people handle their finances, the partnership with Tink aims to improve the payment experience for Paysend users. The need for services that offer transparency, instant access, and security is increasing. 

Moreover, experts predict that in 2025, more markets will adopt Open Banking payments in their services, making cross-border transactions easier. It is anticipated that financial institutions will work closely with fintech companies to deliver better services and an intuitive payment experience.