European PayTech payabl. is partnering with Nordic payment solution Zimpler to allow its merchants to perform instant bank transfers.
Zimpler will integrate its instant bank payment solution, enabling payabl. users to offer customers the option to pay via instant bank transfer at checkout.
The firm also initiates account-to-account payments via the capabilities of its Open Banking APIs to make the transactions process more cost-effective and significantly quicker.
Igor Skachkov, CPO at payabl, said: “Instant payments are surging in popularity worldwide and are set to become the norm in the next couple of years.
“Payments providers like Zimpler and ourselves have contributed greatly to making instant payments available to merchants and consumers and we’re proud of our new partnership, which will expand our reach even further.
“We look forward to working with the team at Zimpler to help merchants across the world access better payment solutions and offer consumers more choice at checkout.”
Zimpler provides its instant banking solutions to more than 350 million customer bank accounts in 25 different markets, with a strong presence in Nordic countries such as Sweden, Denmark and Finland.
The company utilises its Open Banking APIs to transfer funds from one bank account to another instantly.
Zimpler CEO, Johan Strand, commented: “We are excited to offer access to efficient, secure, and fast payments to payabl.’s customer base.
“Our passion lies in democratising access to best-in-class payment services for businesses with complex payment needs and high standards. Being available on payabl.’s platform allows us to reach companies more quickly where our solutions can make a significant impact.”
Along with inking another payment partnership, Zimpler also received welcome news back home in Sweden. The company had an injunction lodged by Spelinspektionen – the country’s gambling authority – annulled over a SEK 25m (€2.2m) fine back in July 2023.
The Swedish gambling authority believed that Zimpler was providing payment service solutions to gaming companies that did not have a gambling licence in the country.
These allegations have now been declared invalid as the Administrative Court believes Spelinspektionen does not have authority over payments.
