TrueLayer’s Open Banking payments available to merchants via Shopify
Open Banking payments network TrueLayer has gone live with its new payments app on Shopify’s platform.
Through the integration on the Shopify app store, UK and EU-based merchants will be able to add Open Banking payments to their checkout “in a matter of hours”, with electronics retailer Maplin having already done so.
TrueLayer’s Open Banking payments are digitally-native and require no manual entry, with customers’ details auto-populated directly from their bank accounts.
Michael Brown, head of ecommerce at TrueLayer, said: “Businesses throughout the UK and Europe rely on Shopify to power their payments.
“As Europe’s leading Open Banking platform, we’re excited to give those merchants the fast, cost-effective Open Banking payments they need to provide an exceptional experience to their customers.”
“We partnered with TrueLayer because we wanted to give our customers a fast, seamless way to complete their purchases while cutting down on card processing fees,” added Ollie Marshall, managing director at Maplin.
TrueLayer’s payments app was designed in partnership with Canadian ecommerce platform Shopify’s agency, Eastside Co.
Jason Stokes, chief executive officer of Eastside Co said that at a time when ecommerce customers “demand a seamless shopping experience”, Open Banking payments can help businesses make their checkouts “fast, smooth and secure”.
“With consumer adoption rising each month, Open Banking has the potential to drive payment innovation for retailers large and small. We’re proud to partner with TrueLayer to help enable that progress for merchants in the UK and Europe,” Stokes added.
It comes as TrueLayer continues to establish connections with ecommerce giants, recently becoming the first European Open Banking option for customers of Stripe.