TrueLayer launches partner programme for Stripe and others to offer open banking payments

TrueLayer is opening up its suite of APIs to other payment providers in the industry, letting the likes of Stripe and Airwallex in turn offer open banking payments to their customers.

The initiative is TrueLayer’s Payments Platform Programme and means third-parties can now in turn offer instant payments, payouts and open banking data access across some 20 European markets.

“Our goal is to make it as convenient as possible for both merchants and consumers to access our payments network,” said TrueLayer’s CEO and co-founder Francesco Simoneschi announcing the programme.

“Today’s announcement means that TrueLayer’s products and services will be available via a selection of best-in-class payment platforms servicing different verticals and business needs. And means everyone can benefit from safer, smarter and faster payments. The network we are building will power the next decade of payments.”

So far the likes of Stripe, Thunes, Nuvei and Airwallex have all signed up to use TrueLayer’s APIs and offer open banking payments.

The announcement is also an acceptance that TrueLayer can’t single-handedly reach the entire payments market, at least, not without a little help.

While Coinbase, Topps Tiles and credit management app Incredible all recently signed up to use TrueLayer, adoption remains in the very early stages.

In April 2023 there were 340.6m Faster Payments made in the UK, and of these, just 9.28m (or 2.72 per cent) were open banking payments.