Open banking payments network TrueLayer has launched its new payments app on Shopify.
Available in the Shopify app store, UK and EU merchants will be able to add open banking payments to their checkout.
Merchants can add the instant bank payments to their website in a matter of hours, which will help them benefit from a “faster” and “more secure payment option” that costs less than cards or PayPal.
More businesses and consumers are using open banking payments, as volumes have doubled in the past year and reached 11.4 million in July
TrueLayer payments require no manual data entry and customers’ details are auto-filled directly from their bank account, which is said to “remove friction” and limit the “likelihood of payment failure”.
The app was designed in partnership with Shopify agency Eastside Co.
TrueLayer head of ecommerce Michael Brown said: “Businesses throughout the UK and Europe rely on Shopify to power their payments. As Europe’s leading open-banking platform, we’re excited to give those merchants the fast, cost-effective open banking payments they need to provide an exceptional experience to their customers.”
Electronics retailer Maplin has gone live with the app and more partners will be announced soon.
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