Open Banking provider TrueLayer has announced that its payment app is now available on Shopify’s App Store for UK and EU merchants to expand their checkout capabilities.
Through the eCommerce Shopify platform, merchants can now add instant bank payments to upgrade the checkout experience and satisfy increasing customer demand for frictionless transactions.
Customers on the other hand can now rely on a fast and smooth payments journey thanks to TrueLayer’s Open Banking infrastructure that offers service with no additional manual data entry.
Instead, customer details are directly pulled from their bank account, speeding up the payment process as a result, which is also accompanied by biometric authentication for enhanced security.
Michael Brown, Head of Ecommerce at TrueLayer, 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.”
One of the first businesses to go live with the app is electronics retailer Maplin, with more partners to be announced soon.
Ollie Marshall, Managing Director at Maplin, commented: “We partnered with TrueLayer because we wanted to give our customers a fast, seamless way to complete their purchases while cutting down on card processing fees.
“Integrating open banking payments through their Shopify app was a breeze, and we’re excited to continue working with TrueLayer to make things even smoother for our shoppers.”
The integration with Shopify was developed with the help of Shopify agency Eastside Co – significantly increasing TrueLayer’s opportunity to build meaningful interactions with the retail sector.
Jason Stokes, CEO at Eastside Co, added: “At a time when ecommerce customers demand a seamless shopping experience, open banking payments can help businesses make their checkouts fast, smooth and secure.
“With consumer adoption rising each month, open banking has the potential to drive payment innovation for retailers large and small. We’re proud to partner with TrueLayer to help enable that progress for merchants in the UK and Europe.”
The announcement comes as TrueLayer enters a period of rapid growth, with the firm recently being announced as a partner of European fintech firm Stripe.