Chip, a platform for long-term wealth building and savings, has partnered with Tink, a Visa-owned Open Banking platform. This collaboration aims to provide payment initiation services (PIS) within Chip’s application.

This partnership allows users of the wealth management platform to fund their accounts using Open Banking-powered transfers. Through this integration, customers of Chip can use account-to-account payments, thereby avoiding traditional card rails. The goal is to offer a more direct and secure method for depositing funds into the app.

Focusing on Enhanced Customer Payment Experience

Chip representatives highlighted that integrating Tink’s infrastructure aims to improve the process of adding money to accounts, stressing the speed and security benefits of Open Banking payments.

Tink officials noted a growing trend among financial apps adopting Pay by Bank solutions. This technology provides Chip with additional payment options and caters to users seeking simpler and more efficient ways to make transfers.

About Tink

Founded in 2012, Tink operates as a subsidiary of Visa. It connects over 13,000 financial institutions across 20 markets and offers various solutions in payments, banking, and lending. In April 2025, Tink partnered with Paysend to enhance Open Banking payments, improving the payment experience for users.

Experts predict that more markets will adopt Open Banking payments in the future, making cross-border transactions easier. Financial institutions are expected to work closely with fintech companies to deliver better services and an intuitive payment experience.