TrueLayer Prepping Launch of Breakthrough Payments System for Europe

TrueLayer is currently in public beta testing for their new open banking payments service they bill as a breakthrough for the market; under the new system cash is transferred in a few minutes and the process is done with bank authentication; TrueLayer chief executive and co-founder Francesco Simoneschi tells Banking Technology: “When Open Banking was launched this was the development many people in the financial industry were waiting for. It is a new form of online payments that will add much needed competition and open the door to range of innovative applications.”; the company is beta testing with 12 firms and hopes to fully launch soon. Source.