Finshark vs TrueLayer Payments
Finshark
finshark.io
TrueLayer Payments
truelayer.comSide by side
| Figure | Finshark | TrueLayer Payments |
|---|---|---|
| Price from | — | — |
| Free plan | — | — |
| Free trial | — | — |
| Open source | — | — |
| Web | Yes | Yes |
| iOS | — | Yes |
| Android | — | Yes |
| API | Yes | Yes |
| Plans published | 0 | 0 |
| Spec score · Open Banking Payment Platforms | 7.7 (#4) | 7.2 (#12) |
| Founded | 2019 | 2016 |
| Headquarters | Finshark lists its Lund office at Lilla Fiskaregatan 2, 222 22 Lund, Sweden. | London, United Kingdom |
| Integrations | Finshark offers APIs and says its services are integrated with the majority of banks in Finland and most Danish banks. | TrueLayer lists Shopify and Magento plugins and libraries for Java, PHP, C#, and JavaScript/Node. |
| Security | The maker says all customer authentications go through Strong Customer Authentication (SCA). | The payment page says customers authorise payments using their bank’s biometric security and that the product adheres to EU and UK strong customer authentication regulations. |
| Support | Finshark offers user support through a contact form and says its Slack channel is open to technical users and developers. | TrueLayer says its team provides technical support and dedicated integration sales managers who scope products, run tests and troubleshoot issues. |
| What it does | Finshark provides open banking payments, payouts, and financial data services for businesses. | TrueLayer Payments lets businesses accept Pay by Bank payments directly from customers’ bank accounts. |
| Who it serves | Finshark describes its services as business-focused and says they are intended for companies across industries. | The page presents Pay by Bank for ecommerce, iGaming, financial services, travel and crypto businesses. |
In their own words
Finshark
Finshark provides open banking payments, payouts, and financial data services for businesses through web and API offerings. Customers can pay or deposit directly from bank accounts without cards, downloads, or signups. Businesses can send single or batch bank transfers, with payee identity and account ownership checked in real time. Payments are usually processed instantly, though some can take up to two days to reach a merchant; payouts can take up to two banking days. Premium insights use real-time account data for KYC checks and can include accounts, balances, transactions, income, debts, categorized transactions, spending behavior, risk propensity, and identity or ownership details. Connection methods include online banking, bank APIs, BankID, and Strong Customer Authentication (SCA); Finshark says customer authentications go through SCA. The company lists 11 authorized markets, more than 3,000 connected banks, and 99% coverage of bank accounts in Scandinavia. Finshark AB says it is a licensed Payment Institution supervised by Sweden’s Financial Supervisory Authority and authorized to provide payment services across the EU/EEA. Pricing is on request.
TrueLayer Payments
TrueLayer Payments lets businesses accept Pay by Bank payments from customers’ bank accounts. Customers authorize payments using their bank’s biometric security; the service says funds leave accounts in real time and arrive instantly. Businesses can view and manage transaction activity in a merchant account. Payment interfaces include hosted or embedded browser pages and mobile SDKs for iOS, Android, and React Native. The Payments API v3 supports payments and payouts in the UK and EU, including merchant-account pay-ins, payments to a beneficiary, refunds, and payouts. A sandbox is available for testing without moving real money. Integration options also include Shopify and Magento plugins, plus libraries for Java, PHP, C#, and JavaScript/Node. API use requires a Console account, and most API features require a merchant account. Ecommerce plugins are available in the UK only. TrueLayer says Pay by Bank can reduce fees and card-related fraud, and that returning customers convert at up to 90%. Pricing is available on request; there is no free plan. The company lists Android, iOS, web, and API platforms.