TrueLayer

truelayer.com
Payment Processing
Weekend Project

Europe's leading open banking platform

How to Replace TrueLayer

Overview

TrueLayer is an open banking platform that enables Pay by Bank payments, allowing merchants to reduce payment costs, increase conversion rates, and provide customers with a card-free, secure payment experience. The platform handles nearly half of all UK Pay by Bank transactions and serves 20+ million consumers across Europe.

Features

18 features across 11 categories

Add-on(3)

Data Add-onPremium

Add-on that provides real-time visibility of transactions and data insights

User Incentives Add-onPremium

Add-on that enables user incentive programs and personalization features

Verification Add-onPremium

Add-on that provides verification capabilities for enhanced security and compliance

Also in: PureVPN, Smartsheet

Core Product(1)

Payments Product

Core payment processing solution that cuts costs and boosts revenue with easy, fast and secure payments

Integration(1)

Developer APIs

APIs for merchants and developers to integrate Pay by Bank and other payment solutions

Also in: monday.com, Notion, Airtable

Payment Feature(1)

Recurring Payments

Support for variable recurring payments and payment sweeping

Payment Method(4)

Bank on File

Payment method allowing stored bank account information for recurring or future transactions

Credit/Debit Card

Traditional card payment option supported on the platform

Manual Bank Transfer

Payment option allowing manual bank transfers

Pay by Bank

Digital payment method allowing customers to pay securely from their bank app without needing a card

Also in: Affirm

Payment Speed(1)

Instant Payments

Real-time payment processing and instant transfers

Payments(1)

Payouts

Bank transfer-based payout solution for businesses

Also in: Lightspeed POS, Acuity Scheduling, Setmore

Security(1)

Biometric Security

Biometric authentication for secure payment confirmation through banking apps

Also in: Hugging Face, Notion, Airtable

Security & Compliance(1)

FCA Authorization

Regulatory compliance and authorization from the Financial Conduct Authority

Solution(3)

Industry-Specific Solutions

Tailored payment solutions for ecommerce, iGaming, financial services, travel, and crypto industries

Signup+Premium

Solution that converts more customers by streamlining onboarding with a single payment

Verified PayoutsPremium

Solution that ensures the right bank account every time for payouts

Tool(1)

Savings Calculator

Tool to calculate potential cost savings with Pay by Bank payments

Cost Calculator

Pricing data not available for TrueLayer. Check their website for current pricing.

Build vs Buy

Should you build a TrueLayer alternative or buy the subscription? Estimate based on 18 features.

Buy TrueLayer

Better Value
Monthly costContact Sales
3-year totalVaries
Time to deployDays

Build Your Own

Development cost$12,000
Maintenance$180/mo
3-year total$18,480
Dev time~1 months

Buying TrueLayer saves ~$18,480 over 3 years vs building.

Estimates based on 18 features and a BuildScore of 5/5. Actual costs vary.