Fintechs Tink, Adyen, and Recharge have announced a Pay by Bank service for the German market.
Tink, founded in Sweden, is an open banking platform and part of Visa.
Adyen (ADYEN:AMS) and Recharge are in the payments sector.
Pay by Bank is when users transfer money directly from one bank account to another.
The first customer using the service is Guthaben.de.
Günther Vogelpoel, CEO at Recharge, said bringing Pay by Bank will boost the value of payments with improved security, speed, and convenience in the payment experience.