Pay by Bank from allpay vs TrueLayer Data API

Pay by Bank from allpay lets customers pay an organisation directly from a bank account using Open Banking, without entering card details. At checkout, the customer chooses the option, selects a bank, and authorises payment in a banking app or online banking; confirmation arrives near instantly. The organisation does not handle sensitive account details because authorisation takes place through the customer’s bank.

The service is intended for housing associations, local authorities, rent and income collection teams, utilities, billing organisations, and organisations handling high-volume regular payments. allpay says bypassing traditional card networks can lower processing costs, while avoiding expired cards, incorrect entries, and manual input may help reduce failed or abandoned transactions. The rollout is starting with the allpayments app and online payment journeys using hosted payment pages. Gateway Plus support is marked as coming soon, with no date specified. Pricing is on request. Platforms listed are Android, iOS, and web. allpay describes the method as FCA-regulated and states that it complies with PCI DSS.

TrueLayer Data API gives applications access to identity, account, transaction and balance data for integrated banks through a single interface. Account details may include the holder’s name, account number and IBAN; card data may include the network, last four digits and name on card, with balances and transactions available at card level. Listed uses include account verification and aggregation, affordability checks, rewards and insights, and money management. TrueLayer offers a customizable user journey or a custom authentication flow for regulated customers. Non-regulated customers and agents of TrueLayer customers must use the customizable flow. Documentation lists client libraries for Node.js, Python, Java and .NET, as well as web and mobile SDKs and hosted payment-page options. The free Sandbox plan uses mock data and has no production access. Production pricing is based on volume and use case; access requires a registered business or commercial entity, a signed commercial agreement and KYB/KYC. TrueLayer requires HTTPS and says data is encrypted at rest and in transit. Identical API requests are cached for one hour, and persistently unreasonable request volumes may be throttled or blocked. The company is headquartered in London and was founded in 2016.