Deutsche Bahn (DB), the national railway company of Germany, and Tink, a market-leading payment services and data enrichment platform, have announced a direct debit setup partnership.
The collaboration aims to enhance direct debit setups, increase conversion rates, and ensure accurate charges for every car or bike usage.
DB, under its subsidiary DB Connect, facilitates seamless bank account connections for customers accessing its modern mobility sharing platforms.
Through partnership, which has seen the integration of Tink’s Account Check feature into ‘Flinkster’ and ‘Call a Bike’, Germany’s leading car and bike sharing networks, users can now easily onboard, promoting eco-friendly travel and reducing carbon emissions.
Clemens Rath, Head of Product Management Bike Sharing at DB Connect spoke enthusiastically on the product, stating, “Since we introduced Account Check, only valid direct debit mandates have been generated. Fraudulent direct debit mandates are prevented by validating the data directly with the customer’s bank. This underlines our commitment to the highest security standards and enables us to guarantee the integrity of our service.”
Account Check plays a vital role in improving direct debit setups, bolstering conversion rates, and ensuring precise account charges for every car or bike usage.
The offering operates by promptly validating account information using real-time data sourced directly from the user’s bank account, with their explicit consent. This verification process not only reduces the risk of fraud but also facilitates instant, hassle-free, and secure account setup.
By eliminating the need for manual data entry in direct debit setup, Account Check minimises user errors and greatly streamlines the overall user experience.
With its swift and seamless verification process, Tink’s solution enhances efficiency, enabling secure and accurate payments to be processed with speed and precision.
Thomas Gmelch, Director of Payments Sales (DACH) at Tink added, “Teaming up with DB Connect is a great example of how we can help businesses provide the best possible onboarding experience, while also supporting DB in helping consumers to minimise carbon emissions. Account verification can be completed in an instant. And with just a few clicks. It reduces failed payments, helps protect against fraud and boosts efficiency – adding value for both businesses and consumers. By making the process faster and more accurate, we can reduce costs and enhance the customer experience.”
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