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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