Sun, Nov 24 2024
The market-leading provider of payment services and data enrichment platform Tink, along with Germany's national railway business Deutsche Bahn (DB), have announced a direct debit setup cooperation.
The partnership seeks to improve direct debit configurations, boost conversion rates, and guarantee precise billing for each vehicle or bicycle usage.
DB provides smooth bank account connections to users of its cutting-edge mobility sharing services through its subsidiary DB Connect.
Through collaboration, which has resulted in the inclusion of Tink's Account Check feature into Germany's top car and bike sharing networks, Call a Bike and Flinkster, users may now conveniently join, encouraging environmentally friendly travel and cutting carbon emissions.
Speaking passionately about the solution, Clemens Rath, Head of solution Management Bike Sharing at DB Connect, said, "Since we introduced Account Check, only valid direct debit mandates have been generated." Direct data validation with the customer's bank stops fraudulent direct debit requirements. This demonstrates our dedication to the highest security requirements and makes it possible for us to ensure the reliability of our service.
Enhancing direct debit setups, boosting conversion rates, and guaranteeing accurate account charges for each automobile or bike utilization are all made possible by Account Check.
With the user's express authorization, the service verifies account information quickly by using real-time data that is directly pulled from the user's bank account. This verification procedure makes it easier to set up an instantaneous, hassle-free, and secure account while also lowering the possibility of fraud.
Account Check minimizes user errors and significantly improves user experience by doing away with the necessity for manual data entry during the setting of direct debits.
Tink's solution improves efficiency by enabling secure and correct payments to be completed quickly and precisely. This is made possible by its quick and smooth verification procedure.
"Working with DB Connect is a great example of how we can help businesses provide the best onboarding experience while also supporting DB in helping consumers to minimize carbon emissions," said Thomas Gmelch, Director of Payments Sales (DACH) at Tink. The process of verifying an account can be finished quickly. Moreover, with only a few clicks. It increases efficiency, lowers the number of unsuccessful payments, and guards against fraud, increasing value for both customers and businesses. We can lower expenses and improve the client experience by streamlining and optimizing the process.
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