Latest news with #SebastianVetter
Yahoo
03-07-2025
- Business
- Yahoo
Stripe and TrueLayer to roll out Pay by Bank in France and Germany
Payments company Stripe, in collaboration with TrueLayer, has revealed plans to launch 'Pay by Bank' payment option in France and Germany. The move represents the extension of the partnership, which began in the UK. The feature is designed to simplify the checkout process for businesses operating in France and Germany. It enables consumers to bypass the traditional entry of card details and authorise payments directly from their bank accounts, often using biometric methods such as fingerprint or facial recognition for authentication. Utilising TrueLayer's open banking infrastructure, Stripe's 'Pay by Bank' connects directly to bank accounts across Europe. Ryanair, which partnered with TrueLayer in December last year, is also implementing this payment option for their customers. TrueLayer Germany country manager Sebastian Vetter said: 'Having seen the success of Stripe's TrueLayer integration in other markets, we are thrilled to bring this innovative payment solution to Germany and France. 'By leveraging TrueLayer's open banking infrastructure, we're enabling German and French businesses to accept payments directly from bank accounts, making transactions faster, safer, and more affordable.' Businesses can avoid card processing fees, which can lead to reduced transaction costs, the TrueLayer press release said. Payments are processed in real-time, and the method employs 'secure, bank-approved' authentication protocols. TrueLayer processes €2bn in 'Pay by Bank' transactions annually in France and €1.4bn in Germany. The integration will be available to all Stripe users in France and Germany in the near future. Last month, Stripe reached an agreement to acquire Privy, a crypto wallet startup based in New York. Privy, established in 2021 by Henri Stern and Asta Li, specialises in providing developers with an API to create secure wallets, sign transactions, and integrate blockchain systems. "Stripe and TrueLayer to roll out Pay by Bank in France and Germany " was originally created and published by Electronic Payments International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Finextra
02-07-2025
- Business
- Finextra
Stripe and TrueLayer to introduce Pay by Bank in Germany and France
Stripe, a programmable financial services company, has announced the upcoming launch of Pay by Bank in France and Germany. 0 This product builds on the successful partnership between Stripe and TrueLayer in the UK, where Pay by Bank has revolutionised payments for both merchants and customers. By offering a direct Pay by Bank payment method, Stripe is streamlining the checkout experience for French and German businesses, improving conversion rates and significantly reducing transaction fees. With Pay by Bank payments consumers bypass entering card details and instead authorise payment directly from their bank accounts, typically via biometric methods. Stripe's Pay by Bank product leverages TrueLayer's open banking infrastructure, which connects to bank accounts across Europe. The Stripe x TrueLayer integration in France and Germany follows growing consumer adoption of Pay by Bank in both countries, where major businesses such as Ryanair have launched the payment method and introduced it to consumers. Pay by Bank payments within the European Union are expected to reach 30 billion in 2028 [1], and Germany and France - Europe's largest economies - will be a key driver of this growth. Key Benefits of Pay by Bank for French and German businesses: • Reduced Payment Fees: With Pay by Bank, businesses can avoid card processing fees, leading to lower overall transaction costs. • Faster Transactions: Payments are processed in real-time, helping merchants to improve cash flow and reduce payment delays. • Enhanced Security: Pay by Bank leverages secure, bank-approved authentication, using biometric authentication to verify transactions. • Improved Conversion Rates: With a seamless and familiar payment method, consumers are more likely to complete transactions, improving merchants' sales outcomes. The France and Germany launches build on Truelayer's success in these markets. The two countries are TrueLayer's largest markets outside of the UK, with on the ground presence in each country and a growing customer base including local and international businesses. • Annually, TrueLayer processes €2bn in Pay by Bank transactions in France and €1.4bn in Germany. • In France and Germany, TrueLayer processes approximately 60% and 30% of all Pay by Bank transactions, respectively. • French and German merchants see an average 42% uplift in conversion from consumers in the TrueLayer Pay by Bank network. In France and Germany, the Pay by Bank integration will soon be available to all Stripe users. The integration process is simple, and businesses can begin offering this payment option to customers immediately via Stripe's payment platform. Sebastian Vetter, TrueLayer's Country Manager Germany, added: 'Having seen the success of Stripe's TrueLayer integration in other markets, we are thrilled to bring this innovative payment solution to Germany and France. By leveraging TrueLayer's open banking infrastructure, we're enabling German and French businesses to accept payments directly from bank accounts, making transactions faster, safer, and more affordable.'
