TrueLayer has acquired Dutch fintech In3 in a strategic move to expand its checkout payment options across Europe. The deal allows TrueLayer’s Pay by Bank network to now offer both debit and credit payment choices to consumers at the point of purchase, significantly broadening its competitive position against traditional card networks and buy-now-pay-later providers.
In3 specializes in consumer credit delivered through bank payment infrastructure, a model that eliminates the need for traditional card rails. The acquisition comes as merchants increasingly seek alternatives to high credit card interchange fees while consumers demand flexible payment options. TrueLayer’s existing open banking infrastructure combined with In3’s credit capabilities creates a unified platform that could challenge established players like Visa, Mastercard, and BNPL providers such as Klarna.
The integration will particularly impact European e-commerce merchants and payment service providers who can now access both instant debit and credit options through a single API connection.
FXnCO Insight
Payment processors and merchants should evaluate TrueLayer’s expanded offering as a potential cost-reduction alternative to traditional card acceptance, particularly for high-volume European transactions.
Source: Finextra