Tymit enables instant top-ups with TrueLayer’s help

Challenger credit card Tymit is streamlining one-off repayments for its credit cards with the help of open banking provider TrueLayer.

Starting today both its Credit card and Booster card customers can initiate an account-to-account top-up without having to leave the Tymit app or mess around with sort codes and account numbers.

The Tymit Credit card lets customers split transactions over three fixed monthly repayments with no interest, or for longer with interest, while the Booster card is focused on helping thin file customers build credit.

Tymit says that using open banking for repayments results in a higher conversion rate and fewer failed transactions, giving customers more control over how and when they repay.

"Working with a firm like Tymit that is delivering a more transparent, fee-free and customer-friendly approach to credit, is exciting,” said Nick Tucker, head of financial services at TrueLayer.

“It has recognised that offering instant payments creates an opportunity to develop a deeper and more positive relationship with its customers.”

In the last few months, TrueLayer has added a ton of new fintech customers including flexible recurring payments with Curve and open banking-powered deposits with Zopa.