What you can use the Payments API for [WiP]

Learn about common use cases of the Payments API v3.

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At the highest level, the types of payment you can make are:

  • Payments: pay in to your corporate bank account or into your TrueLayer merchant account
  • Payouts and Refunds: transferring money to your customers from your TrueLayer merchant account
  • Variable recurring payments: a series of payments made over time that do not need to be authorised individually because they're on a mandate

Use them together, and alongside other TrueLayer products, to accommodate many payment scenarios. Below are some commonly-seen examples.

TrueLayer has a PIS license, so can facilitate payments for companies without one.

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. You can also achieve this functionality with TrueLayer's ecommerce plugins.

This can be used for a wide range of applications, such as investment apps or ecommerce.

  • Merchant account payments
  • Plugins overview
  • Refunds in Console
  • Refunds
  • Closed-loop payouts

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.

Verified payouts for iGaming [but beware! it's not JUST iGaming customers who will be using this]

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.

Combine this with open-loop payouts to enable customers to securely withdraw their winnings.

Signup+ registration with a payment

You can use Payments together with Signup+. By doing this, you can collect and verify a customer's user details through one initial payment, including their 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. This is also useful if your customers need to verify their age before they can buy products from you or sign up to your service.

Sweeping VRP for financial services