Open Banking platform Tink has announced a partnership with Orbyt to assist the company with bettering its invoicing and direct debit payments. Through this collaboration, the European bill service provider seeks to support its network of telcos, utilities, media companies, financial institutions, and insurance providers, having teamed up with Tink to future-proof its offering with Pay by Bank and Tink Account Check, while simultaneously improving the user experience for Orbyt customers.

Invoicing, direct debit payments, and the Tink – Orbyt partnership’s effect As per the information detailed in the press release, exceeding customer expectations with a simplified payment experience has become increasingly important, and Orbyt acts as a strategic partner to its clients throughout Europe, helping facilitate more than 160 million invoices on a yearly basis. Orbyt has embedded Tink’s payments technology to leverage the efficiency associated with Pay by Bank, further streamlining its invoicing service. Furthermore, Tink Account Check assists Orbyt with ensuring hassle-free debits due to instant verification of account ownership, helping keep friction to a minimum with a quick and simple payment setup based on real-time data.

By collaborating with Tink, Orbit is to be enabled to take invoicing and direct debit transactions into the next generation, helping its customer base retain people and return to them by providing payments in a convenient, expedited, and secure manner. Delivering an integrated Open Banking service to its clients, Orbyt’s offerings are designed to integrate into homepages, native applications, and more. This makes performance critical, something that the fluidity of Pay by Bank looks to address.

In essence, a way for anyone to be able to pay from their bank account directly, this payment method provides clients with the familiarity, speed, reliability, and convenience required for an improved checkout experience. With Pay by Bank, money moves between accounts instantly once a consumer authenticates using their face ID, a fingerprint, or something similar. When applied to Orbyt’s invoicing flow, Pay by Bank further helps eliminate friction within the payment journey, enhancing the customer experience with a simplified process.

What is more, due to data provided in a secure manner and in real-time, companies leveraging Orbyt to facilitate direct debit payments are now enabled to verify account ownership instantly. When commenting on the announcement, Fabian Aaberg Andersen, CPO at Orbyt said that in its work towards creating a single reference platform for European enterprise billers in invoicing and payments, the company is constantly looking to integrate advanced technology into its ecosystem. With the belief that Open Banking-powered payments have reached a tipping point as seen in consumer adoption and merchant demand from clients, the company is looking forward to partnering with Tink and ensuring user-friendly and secure solutions, seeking to provide the best possible customer journey for end consumers.

.