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TransferGo Adds Pay by Bank for UK Customers, on Mission to ‘Remove Barriers’ in Finance

TransferGo, the global fintech offering online money transfers to 160 countries, has joined forces with Tink, the Sweden-based payment services, data enrichment and open banking platform, to add Pay by Bank to its payments offering.

UK-based TransferGo customers can already get their hands on the offering, as Pay by Bank enables them to send money internationally more quickly and securely.

Pay by Bank is an embedded payment method powered by open banking that enables consumers to initiate payments directly from their bank account. With zero data entry and fewer redirects, this account-to-account payment method provides a low-cost, streamlined experience by letting users authenticate and initiate payments in a couple of clicks.

Ian Morrin, head of payments and platforms at Tink, discusses pay by bank
Ian Morrin, head of payments and platforms at Tink

Ian Morrin, head of payments and platforms at Tink, explained the benefits that the offering can bring to TransferGo customers: “Pay by Bank is one of the most frictionless ways to pay online. There is an enormous opportunity for Pay by Bank to make a tangible difference to those sending money internationally as it offers a simple way for customers to transfer money more securely, quickly and at low cost.

“At Tink, we have always aspired to make financial services more accessible by providing consumers with the most innovative payment solutions. Partnering with TransferGo, we can support them in their mission to remove barriers for their customers by offering a payment method that improves and simplifies the transfer of money; this is another step towards changing financial services for the better.”

Simon Moran, chief commercial officer at TransferGo, also commented: “With the Tink partnership, we can offer a trustworthy, secure, and speedy solution, making international payments easier and creating more favourable conditions for global financial inclusivity.”

TransferGo provides more accessible financial services to over seven million customers, as it aims to make international money transfers simpler, faster and lower cost.

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