TrueLayer has partnered with SumUp to power instant Pay by Bank top-ups for SumUp personal account users in six European markets.
Under the arrangement, users of the SumUp App can now add funds to their balance directly from their bank account. Transfers complete in seconds and do not require card details, which removes a step that typically adds friction to account funding. TrueLayer, whose Pay by Bank network is used by more than 30 million people across Europe, supplies the underlying payment technology.
The feature first went live in the UK earlier this year. It has since been extended to Ireland, Germany, France, Spain, and Italy.
Direct integration and account data
This integration allows the company to retain full control over the customer experience within its app.
The collaboration also extends beyond payments. SumUp is live with TrueLayer's data capabilities, which allow users to view the balances and transactions of their connected bank accounts in one place. Through the payments network’s account information services, SumUp can connect to users' bank accounts in a secure and compliant manner. According to the companies, this functionality is intended to support more detailed user experiences and the development of further financial products across the platform.
Taken together, the payment and data features indicate that SumUp is working towards a multi-bank experience within its app, combining account funding with an aggregated view of users' finances held elsewhere.
Consumer expansion and wider adoption
For SumUp, the partnership forms part of a broader expansion of its consumer offering. Felix Lamouroux, SVP Global Banking at SumUp, said the company is focused on making everyday financial interactions simpler as its consumer proposition grows. He added that working with TrueLayer supports a more connected experience across multiple banks in the app and provides a foundation for developing additional services.
For TrueLayer, the deployment offers a consumer-facing use case for Pay by Bank. Mariko Beising, VP Financial Services and Partnerships at TrueLayer, noted that the integration lays the groundwork for broader Pay by Bank adoption across Europe.
Founded in 2016, the company combines real-time bank payments with financial and identity data, and businesses use its products to onboard new users, accept payments, and make payouts at scale.
With the service now available in six countries, the rollout gives SumUp a single bank-payment and data provider across several European consumer markets, while extending the reach of TrueLayer's network into a new account top-up use case.
