TrueLayer hits $10 billion a month milestone
TrueLayer, Europe's fastest growing payments network, has announced its biggest month ever, processing over $10 billion in total payment volume (TPV) in April – equivalent to more than $100 billion on an annualised basis.
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TrueLayer is rapidly becoming the go-to choice for instant, secure and low-cost payments across sectors, including eCommerce, food and beverage. During Q1 alone, the platform gained over 500k new users per month, reaching 13 million users in April - reinforcing its position as the clear category leader in Pay by Bank.
'Consumers and merchants are moving en masse to Pay by Bank - and they're choosing TrueLayer', said Francesco Simoneschi, CEO and Co-Founder of TrueLayer. 'This isn't just about volume. It's about velocity. We're building the real-time payment network for Europe and the momentum that we're seeing proves that we're solving a real problem for both sides of the market.'
TrueLayer's rapid growth is being driven by consumer demand for simple, instant payments and instant refunds, and by merchant demand for instant, low cost, secure payment methods that eliminate the possibility of card fraud
By embedding these payments into checkout flows, merchants like Ryanair, Revolut and Just Eat are not only enhancing their customer experience, but they are increasing their checkout conversion and decreasing their payment costs - all while driving industry-wide adoption and educating millions of consumers in the process.
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