Payop, an international payment processor and a payment aggregator, has partnered with Tink, a market-leading payment services and data enrichment platform, enabling it to add ‘Pay by Bank’ to its checkout options.

Payop is now live with the Tink Pay by Bank solution for merchant checkouts, which has already enjoyed noteworthy growth. The amount of executed payments more than doubled between January and December 2023.

Anastasiia Semenkova, CEO at Payop, explained the decision to implement the open banking solution: “When we decided to test open banking technology for e-commerce payments, our choice fell on Tink. We considered many providers but were impressed by Tink’s product offering and consumer-centric approach.

“Going into this, we were already positive about the future partnership, but in practice, it turned out to be much more than we expected. Tink showed us the potential of an open banking technology, providing secure payments that can be done in three clicks.”

Payop works with a variety of merchants from small e-commerce stores to large enterprises, offering a unique checkout solution with numerous payment solutions.

Payop and Tink hope to promote and grow the adoption of this payment method across Europe through this collaboration. Pay by Bank is available for Payop merchants across Europe including France, Germany, Netherlands, Spain and the UK.

Semenkova added: “The European market is very competitive. There are many payment options available in each country. But once consumers try Pay by Bank, we find that they don’t go back to other methods. The increase in adoption of Pay by Bank that we are seeing at Payop would be impossible without a stable and reliable partner. For us, it’s Tink. Tink maintains a high-quality API and keeps adding new banks and countries to its coverage.”

Pay by Bank

Pay by Bank is an online payment method that lets consumers purchase goods and services by initiating payments directly from their bank account to the seller’s account.

This account-to-account payment method provides a secure and streamlined experience, at a low cost, enabling merchants to differentiate themselves from the competition.

Ian Morrin, head of payments and platforms at Tink, also added: “We’ve already seen impressive volume growth in our collaboration with Payop, and we are proud to support them in their Pay by Bank solution. Pay by Bank complements the current payments ecosystem.

“It’s not just about creating another choice of payment at checkout, but offering consumers a payment method that has everything they may want and have come to expect – familiarity, speed, reliability and convenience.”

Stéphanie Cabossioras has stepped down from her role as the executive director of Binance France, becoming at least the 10th senior executive to leave Binance this year.

In an Oct. 19 post on X (formerly known as Twitter), Binance France President David Prinçay confirmed Cabossioras’ departure and expressed his gratitude for her work at the exchange.

Nous remercions Stéphanie pour sa forte contribution à Binance France et lui souhaitons le meilleur pour son prochain défi.

— David Prinçay (@davidprincay) October 18, 2023

“We thank Stéphanie for her strong contribution to Binance France and wish her the best for her next challenge,” wrote Prinçay.

Cabossioras first joined Binance in April 2022, acting as head of legal at the French arm of the crypto exchange, before being promoted to Executive Director in November the same year.

Before joining Binance, Cabossioras was the General Counsel at Autorité des marchés financiers, the organization responsible for much of the financial regulation in the Canadian province of Quebec.

Cointelegraph contacted Binance for further context of Cabossioras’ departure but did not receive a response by the time of publication.

Related: Middle East regulatory clarity drives crypto industry growth — Binance FZE head

Binance’s France arm fell under local investigation in June, with the Paris Prosecutor’s Office citing “acts of aggravated money laundering” among a litany of other charges as the basis for the investigation.

With her departure, Cabossioras adds her name to a roster of at least 10 senior executives to leave Binance over the course of this year alone.

On July 6, three executives announced their respective departures, including; chief strategy officer Patrick Hilman, general counsel Han Ng and Steve Milton, Binance’s global vice president of marketing and communications.

Binance CEO Changpeng “CZ” Zhao addressed these departures on July 7, describing them as normal parts of his company’s evolution, while dismissing reports on them as FUD, an acronym that stands for; “fear, uncertainty and doubt.”

4. More FUD about some departures. Yes, there is turnover (at every company). But the reasons dreamed up by the “news” are completely wrong.

As an organization that has grown from 30 to 8000 people in 6 years, from 0 to the world’s largest crypto exchange in less than 5 months…

— CZ Binance (@cz_binance) July 6, 2023

Binance’s legal woes have only worsened following a number of high profile lawsuits made against it by regulators in the United States. In March, the Commodities Futures Trading Commission sued Binance, CZ and their affiliates for an series of alleged trading violations.

In June, the Securities and Exchange Commission launched legal proceedings of their own, suing CZ, Binance, and its affiliates for allegedly operating as unregistered securities broker, among other charges.

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