14 July 2022
Written By FinTech Alliance in Payments
Open banking business Tink has rolled out settlement accounts.
In Brief:
Tink will offer full-stack payments to its merchant customers.
This will include automated refunds, payouts and reconciliation.
It’s being introduced in the UK and will be rolled out more widely across Europe.
What does this mean?
The new features will be added for merchants alongside Payment Initiation Services, and the business will enable all this through a single API which it says will reduce operational costs.
The decision, reportedly under discussion with the UK government, aligns with the UK’s efforts to attract global tech firms
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