TrueLayer has become one of the companies doing most to transform open banking from an interesting alternative to cards into a mainstream European payments infrastructure.
The premise is relatively simple. Instead of routing an online payment through card networks, TrueLayer connects merchants directly with consumers’ bank accounts, using domestic real-time payment rails to move money. Yet achieving that consistently across Europe, where banking systems, payment rails and customer experiences remain fragmented, requires considerable infrastructure behind the scenes.
It is that infrastructure, rather than the Pay by Bank button itself, that distinguishes TrueLayer.
The company’s network now connects merchants to bank accounts across more than 20 markets.
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