StrikePay’s instant payment terminal uses NFC and QR code technologies to enable people to Tap to Pay with any phone, with no other hardware required. It’s already being used by nearly 7,000 merchants in Ireland and the UK. In partnership with TrueLayer, Strikepay is now powered by Open Banking. Customers who want to get paid quickly can connect and verify their bank account instantly, using TrueLayer’s Data API.
Strikepay’s officials stated that they’re happy to be continuing a trend of fintech innovation in Ireland, bringing Open Banking technology to tipping and payments. We live in a world where very few people pay by cash anymore and this, for many small businesses and professionals, has meant a reduction in income and increased hassle for their customers. StrikePay is on a mission to make it easier for people to get paid instantly by anyone with just a phone, and this partnership TrueLayer helps it to make the process more seamless for its customers.
As well as improving the customer experience, Open Banking via TrueLayer has allowed StrikePay to reduce operational overheads. Previously, StrikePay’s customers had to enter their bank account details manually to receive cash out, which was time consuming and led to mistakes like incorrect IBANs being entered. Working with TrueLayer, it now has an instant and reliable way for customers to connect and verify their bank accounts, which is better for both consumers and the support team who has less errors to deal with.
Representatives from TrueLayer said that Europe is witnessing the growth of fintech firms powered by Open Banking to deliver much-needed digital services to consumers. They’re happy to be working with an Irish start-up that is pioneering a new way to get paid for small businesses and professionals. Not only will this ensure that the whole process is seamless for customers, but also one that is fit for purpose especially as the vast majority of consumers want, and indeed are already accessing, financial services technology and products.
TrueLayer is a global Open Banking platform that makes it easy for anyone to build better financial experiences. Businesses of every size use TrueLayer to power their payments, access financial data, and onboard customers across the UK and Europe. Founded in 2016, TrueLayer is trusted by millions of consumers and businesses around the world. Its vision is to create a financial system that works for everyone.
For more information about TrueLayer, please check out the company profile in The Paypers Company Database.
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