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Tink To Support Payment Initiation, PFM for Lunar Way

Danish fintech Lunar Way has partnered with Swedish fintech Tink to use the latter’s API platform to provide customers with an overview of their finances and initiate payments through the Lunar Way app, reports Henry Vilar of Fintech Futures (Finovate’s sister publication).

At the end of last year, Lunar received an account information service provider (AISP) license and a payment initiation service provider (PISP) license, the first fintech company in Denmark to do so.

These licenses commit banks to allow companies like Lunar Way to build new financial services on top of their data and infrastructure for the benefit of the users.

The partnership with Tink is aimed at accelerating this process, the firm says, making the most of its new licenses.

Lunar Way says that Tink’s entrepreneurial mindset and approach to the financial market are much like its own, which motivated the partnership.

Just under a month ago, Lunar Way received €13 million in funding to expand throughout the Nordics.

A few days before that, Tink was the one receiving a whopping €56 million to establish itself in Europe.

Tink demonstrated its technology at FinovateEurope 2017, winning Best of Show honors for its independent, consumer PFM app that gives users a PSD2-compliant, virtual banking experience. Founded in 2012, the company is led by CEO and co-founder Daniel Kjellén.