CTS partners with Tink on new payment option

Ticketing giant CTS Eventim has partnered with Visa solution Tink to provide a new payment option for fans across Europe.

Benefiting from Tink’s pan-European network, CTS has added Pay by Bank as a checkout option for its customers across Austria, Germany, the Netherlands, Poland and the UK, with ambitions to expand into more markets throughout 2024.

Stockholm-founded Visa subsidiary Tink is described as a payment services and data enrichment platform, while Pay by Bank is an open banking online payment method that lets users authenticate and initiate payments directly from their bank account into a seller’s account in just a few clicks.

“We’ve integrated Pay by Bank from Tink to offer our customers a seamless, secure, and instant way to pay directly from their bank accounts,” says Sören Kuthning, CTS’ head of e-commerce finance operations. “This enhances the checkout experience by reducing payment failures and processing times. The additional option not only improves customer satisfaction but also supports us in delivering an efficient and reliable service.”

“Today’s consumers demand simplicity and speed in their payment processes, particularly when purchasing tickets for sought after events”

CTS systems and platforms sell more than 300 million tickets per year worldwide.

“Today’s consumers demand simplicity and speed in their payment processes, particularly when purchasing tickets for sought after events,” adds Thomas Gmelch, DACH (Germany, Austria and Switzerland) payments director at Tink. “Pay by Bank delivers precisely that, offering one of the smoothest online payment experiences.

“Partnering with Eventim allows us to show the true value of Pay by Bank. With this payment method, the only prerequisite is a bank account, opening up the possibility of serving millions of new and frequent Eventim customers. Being part of Visa ensures we are able to provide trusted and secure payment solutions across all of Eventim’s primary markets, leveraging over 60 years of experience in shaping the future of commerce.”

German-headquartered live entertainment company CTS’ share price recently reached another all-time high after the company raised its guidance for 2024 in light of its “excellent” Q2 financial results. Ticketing revenue for the period was up 26% to €358 million, boosted by the firm’s recent acquisition of See Tickets.

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