TrueLayer unveils Payment Links to enable A2A payments via open banking
By Gloria Methri
TrueLayer has launched payment links, a new feature that enables businesses to offer instant payments, powered by open banking, directly from an email, text message, or a QR code.
To use payment links, customers must scan a QR code or click an online link – through an email, chatbot conversation, or text message – which takes them to their online bank accounts to make the payment directly to the business. This functionality can be used either online or as part of the in-store shopping experience.
Payment links are part of innovative instant payment tools, built to transform the payments experience and expand the use cases for open banking in retail, e-commerce, and beyond. Combined with TrueLayer’s reach across Europe, this new feature will accelerate the growth of open banking payments further into the mainstream.
Payment links simplify the process of building a payments page by letting businesses create checkout pages within minutes, without the need for a website or third-party e-commerce platform integration.
Payment links are already live with TrueLayer customers, including Topps Tiles, which has over 300 stores nationwide, and Southampton’s Solent Wholesale. Both are using TrueLayer’s new product feature to improve invoicing by automating the process via email and simplifying the payment for their customers.
Michael Brown, Head of Ecommerce at TrueLayer, said, “Powered by open banking, payment links are an easy-to-implement, instant-to-settle solution that will allow merchants to accept open banking payments anywhere: across their marketing channels, emails, texts, and even in-store. TrueLayer’s payment links are yet another proof point of how open banking can be used to transform business payments and consumer experiences.”
Luke Crooks, Director at Solent Wholesale Carpets, said, “With payment links, we can automatically send invoice payment requests from our CRM, and the payments settle in real-time. By using TrueLayer, we have been able to save on payment processing costs vs cards. Plus, the end-to-end integration time took less than 48 hours. We chose TrueLayer because of their responsive support team, extensive online documentation, and GitHub tools which made the integration process quick and easy.”