By Amelia Isaacs on Tuesday 1 November 2022
TrueLayer's open banking technology will make it easier and faster for Strikepay's clients to get paid.
Open banking platform TrueLayer is partnering with payments startup Strikepay to make it easier for the Irish fintech’s clients to get paid.
Strikepay says it is “revolutionising” the way we pay for goods and services in a cashless society, offering instant ‘Tap to Pay’ on any phone.
It is currently being used by almost 7,000 merchants across the UK and Ireland, and is now powered by open banking.
The partnership with TrueLayer should help make the process easier for customers to get paid instantly, by anyone, just using a phone.
“We’re excited to be continuing a trend of fintech innovation in Ireland, bringing open banking technology to tipping and payments,” StrikepayCEO Oli Cavanagh said.
“We live in a world where very few people pay by cash anymore – this, for many small businesses and professionals, has meant a reduction in income and increased hassle for their customers.”
The partnership has also enabled Strikepay to reduce operational costs and to ease the process for customers, who previously had to input bank details manually.
This was time consuming for customers and would lead to mistakes such as incorrect IBANs being entered.
“Working with TrueLayer we now have an instant and reliable way for customers to connect and verify their bank accounts, which is better for our customers and for our support team who have less errors to deal with,” Cavanagh added.
Customers who want to get paid quickly can now connect and verify their bank account instantly with TrueLayer’s data API, according to Strikepay.
“Europe is witnessing the growth of fintech firms powered by open banking to deliver much-needed digital services to consumers,” TrueLayer general manager Europe Joe Morley said.
“Not only will this ensure that the whole process is seamless for customers, but also one that is fit for purpose especially as the vast majority of consumers want, and indeed are already accessing, financial services technology and products,” Morley added.
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