TrueLayer launches PayDirect, an Open Banking payment method

Tuesday 26 January 2021 12:18 CET | News

Fintech TrueLayer has launched PayDirect, a new payments method enabling companies to create streamlined, secure, and cost-effective onboarding and payments processes, according to OBE.

Identity and verification flows and card-based payments typically generate avoidable friction along the customer journey, affecting adoption and retention rates and generating unnecessary costs. The introduction of Strong Customer Authentication (SCA) in 2021 adds another layer of friction to cards with workarounds that deliver a poorer customer experience.

PayDirect is TrueLayer’s answer to those issues, enabling firms to stay compliant while delivering a better customer experience. Built on open banking and the fast bank payment rails, it provides firms with instant payments and withdrawals, while accelerating KYC and AML processes, to deliver the most complete solution on the market.

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Keywords: TrueLayer, Paydirect, Open Banking payments, Open Banking, payment method, SCA, KYC, AML, instant payments
Categories: Payments & Commerce
Countries: World
This article is part of category

Payments & Commerce