TrueLayer acquires In3 to launch Pay by Bank credit in Europe

By Parth Prabhudesai

TrueLayer has acquired Dutch FinTech In3 in a move that expands its Pay by Bank offering into consumer credit, making it the first Pay by Bank network in Europe to support both debit and credit payments at checkout.

The acquisition allows consumers to choose between paying instantly or over time directly from their bank accounts through a single checkout experience. Buy Now Pay Later (BNPL) will be the first credit product launched under the integration, with additional longer-term credit products expected later this year.

The deal marks a major step in the evolution of Pay by Bank, which has so far focused primarily on instant debit payments. TrueLayer said the expansion into credit offers merchants and consumers an alternative to traditional card-based payment and lending systems, while also reducing fraud risks linked to chargebacks.

Francesco Simoneschi, chief executive officer and co-founder of TrueLayer, said: “Today we are doing for credit what we have already achieved for debit. For the first time, consumers can choose to pay instantly or over time, directly from their bank account, through the same Pay by Bank experience they already know.”

TrueLayer currently reaches more than 25 million consumers across 22 countries and processes over $150 billion in annualised payment volume. The company said integrating In3’s consumer credit expertise will strengthen its position as a European alternative to dominant US card networks.

Hans Langenhuizen, chief executive officer of In3, said: “Together, we are giving merchants and consumers instant payments and flexible credit in a single checkout experience.”

In3 will continue operating from the Netherlands while its technology and products are integrated into the TrueLayer platform. Financial terms of the acquisition were not disclosed.