TrueLayer hits latest industry milestone, surpassing 15 million consumers

TrueLayer, Europe’s fastest growing Pay by Bank provider, has surpassed 15 million active users in its consumer network, marking a significant industry milestone in the adoption of Pay by Bank in Europe.

With a new user now joining every three seconds, this rapid adoption reflects the rising demand for faster, safer and more cost-effective payments — cementing Pay by Bank’s role in reshaping the payments landscape.

Major European brands, including Papa Johns, Ryanair and Just Eat Takeaway, have recently integrated TrueLayer’s Pay by Bank solution into their checkouts, reflecting a broader shift amongst merchants towards next-generation payment infrastructure. For these businesses, Pay by Bank delivers a superior secure payment experience whilst creating a resilient checkout not reliant on traditional card-based systems.

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As our user base grows, merchants are recognising the undeniable value of Pay by Bank, reducing their costs and improving their customer experience.

Francesco Simoneschi, TrueLayer CEO and Co-founder

Growing consumer demand for Pay by Bank

To date, TrueLayer has processed more than $10 billion in payments in April and its platform accounts for almost half of all UK Pay by Bank transactions. This milestone reflects growing consumer demand for simple, secure ways to pay online without card details.

In the UK, Pay by Bank transactions have more than tripled in the past three years, reaching over a remarkable 31 million monthly payments in March 2025. This surge in usage underscores the increasing consumer demand for payment methods that eliminate the need for card details, reduce fraud and deliver instant payment confirmation. By bypassing traditional card networks, customers and merchants alike avoid unnecessary fees while benefiting from faster, more secure transactions.

For merchants, Pay by Bank offers a faster, lower-cost alternative to card payments – delivering instant settlement and reduced fraud both of which support healthier cash flow. As more consumers adopt and continue to use Pay by Bank, benefiting from more tailored experiences, merchants in return benefit from increased conversion rates and cost savings.

Francesco Simoneschi, Co-Founder and CEO of TrueLayer, added: “We’re not just watching the payments industry evolve — we’re driving it. Hitting 15 million active users shows that consumers want payments to be as simple and secure as possible. As our user base grows, merchants are recognising the undeniable value of Pay by Bank, reducing their costs and improving their customer experience. This milestone is just the beginning and we remain committed to broadening the scope of Pay by Bank across new verticals and enhancing its capabilities to solve real-world challenges.”