TrueLayer, ANNA Money to enable instant business payments via QR codes

Thursday 19 March 2020 12:50 CET | News

TrueLayer, a provider of financial APIs, has expanded its partnership with business current account and digital admin assistant ANNA Money.

The integration of TrueLayer’s Payments API will enable ANNA’s customers to receive money instantly using QR codes via ANNA’s app. As a result, businesses will no longer need to use physical payments terminals, bank cards or intermediaries for payments - significantly reducing transaction costs and speeding up transfers. This streamlines the payments process and enables businesses to better manage their day-to-day cash flow.

Mandated by the EU’s Open Banking-style regulation PSD2, Payments Initiation is a new means of transferring money in a faster, cheaper and more secure way than most other traditional payments methods.

TrueLayer’s partnership with ANNA began in April 2019 with the integration of its Data API. This enabled ANNA to provide its customers with  Open Banking-based services including account aggregation and faster, easier VAT calculations via its assistant app.

TrueLayer’s expanded partnership with ANNA comes on the heels of the integration of its Payments API with brokerage company Stake - one of the first applications of Payments Integration in that market.

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Keywords: TrueLayer, Anna Money, payments , QR codes, Open Banking
Categories: Banking & Fintech
Countries: Europe
This article is part of category

Banking & Fintech

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