2025 Annual Report
Ten years of infrastructure. One complete network.
Everything cards can do, on bank rails: debit, credit and recurring payments, through one integration.
Volume up 52%. Revenue up 39%. Our user network doubled.
2025 was the year Pay by Bank stopped being infrastructure and started being the network European commerce will run on.
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In their own words
The first 10 years were assembling the network. Our next 10 years will be spent proving that the Pay by Bank network will be the default, not the alternative.
Francesco Simoneschi, CEO & Co-Founder
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2025 was a year of deliberate, front-loaded investment. That we reduced operating cash outflow by 27% while carrying this investment is, to my mind, a strong demonstration of the discipline now embedded in the business. 2025 carried the cost of building the network. 2026 is when we begin to see the return on that investment.
Mo Mirza, Chief Financial Officer
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Product highlights
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Pay by Bank - PayIn
Pay by Bank, our flagship product, enables users to make secure, instant payments directly from their bank account: no cards, no apps, no passwords. Built on open banking rails, it delivers a low-friction, secure checkout experience that reduces costs, removes chargebacks, and settles funds in real time.
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Pay to Bank - PayOut
Pay to Bank delivers fast, reliable disbursements (refunds, payouts etc.) directly to users’ bank accounts. It automates operations with smart retries, intelligent routing, and real-time status tracking to reduce manual effort and improve efficiency and customer experience.
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Bank on File
Bank on File works everywhere card-on-file does, but faster, cheaper and more secure, because it stores the user’s consent rather than their card detail. Cards expire and payments fail. Consent does not. The user sets exactly what a merchant can charge and manages it from their own bank: subscriptions, repeat purchases, household bills and one-click checkout.
Credit
Through our acquisition of In3, TrueLayer now offers credit at the point of payment: buy now, pay later built on account-to-account rails rather than cards. Consumers gain purchasing power at checkout; merchants gain higher conversion and larger baskets, with the cost efficiency and low fraud of bank rails. Longer-duration credit products will follow soon.
Data
TrueLayer’s Data product turns, real-time bank account and transaction data into trusted customer insight. The TrueLayer Network enriches raw bank data with income, cash flow, spending and risk signals, helping businesses verify customers, assess financial risk and personalise experiences across the customer lifecycle.
Read the full 2025 Financial Performance Report
Resources
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Pay by Bank - Credit: our latest step towards a complete Pay by Bank payments network
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Bank on File: this is only the start
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TrueLayer completes acquisition of Zimpler, expanding Pay by Bank network across the Nordics
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