TrueLayer's app now available on Shopify App Store

Developed in partnership with Shopify agency Eastside, the app follows TrueLayer’s objective to establish connections with ecommerce participants. According to the company’s officials, many businesses across the UK and Europe rely on Shopify for their payments. Considering its position as an Open Banking platform, TrueLayer intends to provide merchants with fast, cost-effective Open Banking payments they require to offer an improved experience to their customers.

Representatives from Maplin, one of the first companies to go live with the app, stated that their company’s partnership with TrueLayer was influenced by the latter’s capabilities to provide fast and simplified methods for customers to complete purchases while reducing card processing fees. Reportedly, the integration of Open Banking payments through TrueLayer’s Shopify app was simple. 

Through its solutions, TrueLayer aims to provide smarter, safer, and faster online payments by combining real-time bank payments with financial and identity data. Businesses can leverage the company’s services to onboard new users, accept money, and make payouts at scale. Currently, TrueLayer operates in 21 countries and has approximately 10 million users for whom it processes transactions.

At the beginning of November 2023, TrueLayer partnered with gaming operator William Hill to offer instant pay-ins and payout for players in the UK. Through this collaboration, users can select the Instant Bank Transfer option to pay into their William Hill accounts. Open Banking and instant payment rails allow customers to transfer their earnings directly to their bank accounts, offering an enhanced user experience.

Moreover, in October 2023, TrueLayer became one of the first European Open Banking payment options to be integrated into Stripe’s Payment Element. With this integration, Stripe merchants operated in the UK and the EU can provide TrueLayer as a payment method to their customers. Also, it enables merchants to incorporate TrueLayer’s Open Banking payment option into the Stripe checkout process.

In August 2023, Lopay, a point-of-sale (POS) solution, partnered with TrueLayer to offer instant payouts. The collaboration allowed Lopay to provide TrueLayer’s real-time payout solution to its network of 20,000 enterprises and traders, with the move being expected to enable the company’s customers to have better control over their funds.