TrueLayer, a UK payments fintech looking to disrupt the dominance of card payments, has acquired a Dutch fintech, in a move to expand its offering to credit products.
Backed by Stripe and Tiger Global, TrueLayer leverages open banking technology to allow customers to make online transactions.
These payments are called account-to-account payments or pay by bank and are an alternative to going through card giant intermediaries Visa and MasterCard.
TrueLayer says its technology has transparent pricing, no hidden fees and eliminates fraud.
TrueLayer has acquired 20-strong Dutch fintech In3, which specialises in consumer credit via bank payments.
