Pay by Bank is the commonly used term for the open banking-powered payment method that allows consumers to quickly transfer money directly from one bank account to another.  

Initially, Recharge will offer Pay by Bank on Guthaben.de, one of their flagship websites for the German market. Customers of Guthaben.de can now select to Pay by Bank for an easy, secure payment method when buying vouchers.  

Günther Vogelpoel, CEO at Recharge, said: “We pride ourselves on ensuring consumers are in the driving seat when it comes to how they choose to pay for brands and services. Bringing Pay by Bank to our platform with Tink and Adyen, starting with our German customers on Guthaben.de, supports those who value security, speed, and convenience in their payment experience.”

The Pay by Bank payment method is facilitated by the partnership between Tink, a market leader in open banking payments, and Adyen, a financial technology platform for leading companies that provides end-to-end payments capabilities, data-driven insights, and financial products in a single global solution.

Thomas Gmelch, Payments Director DACH at Tink, said: “The appetite for Pay by Bank among merchants, especially those working with PSPs like Adyen, is really growing. At Tink we’ve seen recently that over 10,000 merchants have now chosen Pay by Bank via our PSP partnerships.”

Hella Fuhrmann, Country Manager DACH at Adyen, added: “Our ongoing partnership with Tink empowers us to introduce this new solution that lets customers make payments directly from their bank accounts. This innovation is designed to make payments easier and help our customers achieve their goals faster.”