TrueLayer partners with digital bank Zopa

Wednesday 25 May 2022 12:26 CET | News

TrueLayer, an Open Banking platform, has partnered with digital bank Zopa, who has gone live with account-to-account payments for its Smart Saver savings account.

Zopa’s Smart Saver has focus on helping consumers at the start of their savings journey, enabling them to deposit money into different ‘Pots’ with different interest rates and access requirements. In just a few months, the account has already attracted 20,000 customers and more than GBP 110 million in deposits.

TrueLayer is now supporting Zopa with instant, secure account-to-account payments that remove the need to enter any card or bank account details. Instead, customers select the ‘Instant bank transfer’ option at the top of the payment screen and authenticate their identity with biometrics to confirm the payment.

Open Banking payments with TrueLayer provide Zopa with operational benefits such as lower processing fees compared to cards and other deposit methods and real-time payment confirmation and settlement, providing Zopa with the assurance that every transaction has been authorised and received into the customers’ account.

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Categories: Banking & Fintech
Companies: TrueLayer, Zopa
Countries: Europe
This article is part of category

Banking & Fintech




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