TrueLayer and SumUp expand Pay by Bank account top-ups across Europe

TrueLayer has partnered with SumUp to provide instant Pay by Bank account top-ups for users of SumUp's personal accounts in six European markets. Customers can add money to their SumUp balance directly from a bank account without entering card details.

The transfers are completed within seconds. TrueLayer provides the underlying payment technology through its Pay by Bank network, which is used by more than 30 million people across Europe.

Pay by Bank expands from the UK to five additional markets

The account top-up feature first launched in the UK earlier this year. SumUp has since extended it to Ireland, Germany, France, Spain and Italy.

The integration keeps the funding process inside the SumUp App. This allows SumUp to maintain control over the customer experience while using TrueLayer's bank payment infrastructure in the background.

Partnership also includes bank account data

The collaboration covers more than payment initiation. SumUp is also using TrueLayer's data capabilities to let customers view balances and transactions from connected bank accounts in one place.

Through TrueLayer's account information services, SumUp can connect to users' bank accounts in a secure and compliant way. According to the companies, the data functionality is intended to support more detailed user experiences and the development of additional financial products.

SumUp moves toward a multi-bank experience

Together, the payment and data integrations allow SumUp to combine account funding with an aggregated view of financial information held at other banks. This gives users access to more of their banking activity from within the SumUp App.

The rollout forms part of SumUp's broader expansion of its consumer offering. Felix Lamouroux, SVP Global Banking at SumUp, said the company is focused on simplifying everyday financial interactions as its consumer proposition develops and that the TrueLayer partnership supports a more connected multi-bank experience.

TrueLayer gains another consumer Pay by Bank use case

For TrueLayer, the partnership adds a consumer-facing account top-up use case to its Pay by Bank network. Mariko Beising, VP Financial Services and Partnerships at TrueLayer, said the integration provides a foundation for broader adoption of Pay by Bank across Europe.

Founded in 2016, TrueLayer combines real-time bank payments with financial and identity data. Businesses use its products for customer onboarding, payment acceptance and payouts at scale.

With the service now available in six countries, SumUp has one provider for bank payments and account data across several European consumer markets, while TrueLayer extends its network into another account funding use case.