Following this announcement, the partnership represents an important step for both companies, as they will focus on optimising the overall customer experience and accelerate the development of travel finance.
In addition, both TrueLayer and Ryanair will continue to prioritise the process of remaining compliant with the regulatory requirements and laws of the industry, while focusing on meeting the needs, preferences, and demands of customers and travelers as well.
More information on the TrueLayer x Ryanair partnership
TrueLayer represents an Open Banking payments network that focuses on the region of Europe. The company powers safer and faster online payments by combining real-time bank transactions with financial and identity data.
Throughout this collaboration, Ryanair clients will have the possibility to leverage the Pay by Bank solution when booking flights, a process that will offer a faster, more secure, and seamless payment experience. This initiative comes as TrueLayer continues to expand within the ecommerce sector, having also recently gone live on some of Europe’s ecommerce sites such as Just Eat Takeaway, Asda Money, or lastminute.com.
At the same time, Pay by Bank will provide its features for a cheaper price, which will enable Ryanair to save funds if clients leverage the product instead of traditional card payments. The addition of Pay by Bank also enhances checkout reliance, as this process proved invaluable during the CrowdStrike outage, which left travel operators unable to process card payments and caused global losses of over EUR 4 billion.
For more information about TrueLayer, please check out their detailed profile in our dedicated, industry-specific Company Database.
