UK-based TrueLayer has entered a strategic collaboration with emerchantpay to provide payments by bank transfer for merchants across the region and Europe. Through this strategic partnership, emerchantpay and TrueLayer intend to offer payments by bank transfer as a checkout option for merchants operating across the UK and Europe.

The solution is set to enable emerchantpay’s merchants to utilise this payment option to allow customers to connect to their online banking environment at checkout for a secure and simplified payment experience. In addition, the move removes the need for creating new accounts with TrueLayer or manually entering financial account details, including account number and sort code on the business’ website. Moreover, after the customer authorises the payment via their preferred banking environment, they are redirected to the merchant’s website and the transaction is completed. Also, the amount is withdrawn instantly from the customer’s bank account, thus simplifying personal finance management.

More information on the announcement When it comes to merchants, TrueLayer and emerchantpay’s solution supports them by minimising the risk of failed payments, as the customers do not have to manually enter their payment information, which can result in errors, including typos or incorrect payment details. In addition, merchants are set to benefit from reduced risk of fraud, as consumers are required to validate each payment directly via their banking solution. According to emerchantpay’s officials, the collaboration with TrueLayer, as well as offering merchants an Open Banking payment option, aligns with the company’s commitment to connecting businesses and consumers everywhere. By leveraging TrueLayer’s Open Banking network, emerchantpay aims to further simplify and improve payments for its merchants and allow them to provide their customers with additional secure and convenient methods to conduct payments. Furthermore, representatives from TrueLayer highlighted their enthusiasm over their company’s strategic collaboration with emerchantpay.

By joining forces, the two organisations intend to assist businesses operating across Europe and the UK to deliver convenience, efficiency, and security to the experience of navigating the landscape of Open Banking. Also, TrueLayer and emerchantpay are set to focus on enabling merchants in the UK and Europe to craft improved payment experiences for their customers. For more information about TrueLayer, please check out their detailed profile in our dedicated, industry-specific Company Database.

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