TrueLayer has teamed up with payment orchestration leader BR-DGE to introduce Pay by Bank to enterprises globally, promising to streamline their payment options and boost security.
BR-DGE offers a single integration platform that allows merchants to efficiently add and manage various payment methods, aiming to streamline checkout processes and replace outdated systems.
By incorporating TrueLayer, BR-DGE has added the Pay by Bank option, which processes over 20 million payments per month in the UK and is favored by a significant portion of online shoppers who are willing to use this method when available.
“Pay by Bank — and open banking more generally — is no longer an idea on the distant horizon, it’s right in front of us,” said Mariko Beising, VP financial services and payment partnerships at TrueLayer.
“Consumer adoption is growing rapidly, and merchants increasingly recognise the benefits, namely its real-time settlement, high-converting user experience and bank-grade security. BR-DGE is leading the way in payment orchestration and we’re delighted to partner with them to offer Pay by Bank to its merchants.”
Tom Voaden, VP commercial at BR-DGE, also added: ““At BR-DGE, we’re really excited about this new partnership with TrueLayer, so we can further advance interoperability in the payments ecosystem with the addition of Pay by Bank.
“This collaboration not only simplifies connectivity and expands payment options but also positions BR-DGE to drive industry standards for open, interconnected networks – future-proofing our platform for continued growth and innovation.”
Pay By Bank
According to Francesco Simoneschi, co-founder & CEO of TrueLayer, there has been a significant rise in the adoption of Pay By Bank, embraced by merchants, consumers and regulators alike.
“From ecommerce leaders like Ryanair to JustEat and Lastminute.com, there’s a clear readiness for change. It’s not just about entry – it’s about disrupting legacy payment systems to offer more choices, competitive pricing, and lower costs for all parties involved,” he also said.
“Consumer adoption is accelerating globally, and merchants are seeking alternatives to traditional card networks. Pay by Bank is stepping up as a fast, secure, and reliable option, ready to compete at the checkout. This year will see intense innovation and pricing competition, transforming how transactions are processed.”