About TrueLayer
TrueLayer is an open banking platform for businesses in Europe. It lets merchants accept payments directly from customers' bank accounts, and it also offers account data for onboarding and checks.
What it does
TrueLayer connects merchants to a network of banks so customers can pay from their bank account, a method called Pay by Bank. It also supports payouts and account data services that let an app confirm details with a user's permission. Merchants can use the network as a card-free option at checkout, which can reduce some card fraud and chargeback exposure.
Key features
- Pay by Bank checkout for online payments
- Payouts to bank accounts in seconds
- Account data for onboarding and checks, with user consent
- Access to a large network of bank users
- A card-free option at checkout
Who it's for
TrueLayer suits merchants, lenders and fintech companies that take payments or verify accounts in Europe. Businesses that want to offer bank transfers at checkout alongside cards will find it most relevant.
Pricing and good to know
Access starts with a conversation with the company's team, and pricing is handled through sales. The company describes its Pay by Bank network as fast growing in Europe. Payment availability depends on the customer's bank and country, so check coverage for your markets before launch.
Highlights
- Lets customers pay from their bank at checkout
- Sends payouts to bank accounts in seconds
- Verifies account details with user permission
- Reaches a large network of bank users
- Offers a card-free option at checkout
