UK-based fintech specialising in global remittances TransferGo has partnered with payment services and data enrichment platform Tink . The main goal of this partnership is to integrate Pay by Bank into TransferGo's payments suite.

Pay by Bank, now accessible to TransferGo's UK customers, offers a secure and expedited method for international money transfers. Leveraging Open Banking, this Embedded Payment solution enables users to initiate transactions directly from their bank accounts, minimising data input and redirections. The partnership with Tink aims to enhance TransferGo's offerings, ensuring a reliable, secure, and efficient payment experience for global users.

In the company press release, officials from TransferGo emphasised the company's commitment to supporting financial inclusivity. They talked about Pay by Bank as a means to bridge gaps for individuals previously underserved by traditional financial services. In turn, representatives from Tink underscored the simplicity and security of Pay by Bank, citing its potential to significantly impact international money transfers.

More information about the two companies Founded in Stockholm in 2012, Tink is a subsidiary of Visa and offers a range of solutions to financial institutions globally, focusing on streamlining processes and enhancing consumer experiences through data-driven innovations. In 2024, Tink has engaged in various partnerships, including one with Germany-based payment processor Micropayment. In March 2024, Micropayment integrated Tink’s Pay by Bank product for merchant checkouts.

Pay by Bank went live for Micropayment merchants across the DACH region with plans to leverage Tink’s pan-European connectivity even further in the future. TransferGo, headquartered in London and Vilnius, remains committed to promoting financial inclusion and accessibility and aims to create a fairer world for its customers worldwide. TransferGo specialises in simplifying international money transfers, operating in 160 countries and serving over 7 million customers worldwide.

In April 2024, the fintech secured a USD 10 million growth funding round from investor Taiwania Capital. This investment aimed to facilitate the company's expansion into the Asia-Pacific region. TransferGo also raised a USD 50 million Series C funding round in 2021.

At the time, representatives from TransferGo highlighted the company's profitability over the past year, with marketing being the primary expenditure. They also emphasised that the business has achieved sustainability and profitability, with remaining proceeds from the previous funding round. .