Adyen will tap Tink’s payment initiation technology to enable businesses to access account-to-account payments, beginning in the UK with more markets to follow in 2023.

The agreement builds on a partnership Adyen and Tink already have for Account Check technology, that lets Adyen’s customers instantly verify account ownership to streamline payouts.

Edgar Verschuur, head, global acquiring, Adyen, says: "With our open banking solution, shoppers can pay directly from their own trusted banking environment without leaving the checkout journey."

Tom Pope, head, payments and platforms, Tink, adds: "With the scale of Adyen’s reach, our partnership will rapidly accelerate the global adoption of open banking powered payments."