What you can use the Payments API for
Learn about common business applications and use cases of the Payments API v3.
At the highest level, the types of payment you can make are:
However, you can combine these payment types and use them with other TrueLayer products to accommodate many payment scenarios.
Receive payments and pay back to an account
If you receive payments into a TrueLayer merchant account, you can make secure and immediate payments or refunds back to the account that made the payment.
This can be used for a wide range of applications, such as investment apps or ecommerce.
You can also achieve this functionality with TrueLayer's ecommerce plugins, which you can use for a simple integration with WooCommerce or Magento.
Make payouts to external accounts
By using a TrueLayer merchant account and open-loop payouts, you can make immediate payouts to any account in the UK or across Europe.
This can be useful for almost all businesses. However, it can be very useful for iGaming. TrueLayer has a PIS license, so can facilitate payments for companies without one.
You can use the Payments API with the Verification API to make secure payouts to a user's other accounts. The Verification API confirms that a user's name matches the name on other bank accounts. Combined with open-loop payouts, you can make secure payouts to customers.
This can be useful for iGaming businesses.
Registration with a payment
After you have integrated the Payments API, you can use it with Signup+. By doing this, you can collect a customer's user details through a single initial payment, including, name address, and date of birth.
This simplifies the registration processes, speeding up onboarding and decreasing the number of customers who drop out before making a payment.
Updated 23 days ago