Pay by Bank from allpay vs TrueLayer Payments
Pay by Bank from allpay
allpay.net
TrueLayer Payments
truelayer.comSide by side
| Figure | Pay by Bank from allpay | TrueLayer Payments |
|---|---|---|
| Price from | — | — |
| Free plan | — | — |
| Free trial | — | — |
| Open source | — | — |
| Web | Yes | Yes |
| iOS | Yes | Yes |
| Android | Yes | Yes |
| API | — | Yes |
| Plans published | 0 | 0 |
| Spec score · Open Banking Payment Platforms | 7.4 (#10) | 7.2 (#12) |
| Company history | allpay’s company history says it was established as Financial Collection Services Ltd in 1994. | TrueLayer’s 2024 financial performance report says the company began in London in 2016. |
| Founded | 1994 | 2016 |
| Headquarters | Hereford, England, United Kingdom | London, United Kingdom |
| Integrations | The page says Pay by Bank is rolling out across allpay’s digital platforms, starting with the allpayments app and online payment journeys using hosted payment pages; Gateway Plus is marked as coming soon. | TrueLayer lists Shopify and Magento plugins and libraries for Java, PHP, C#, and JavaScript/Node. |
| Security | Customers authorise each payment directly through their bank, so the organisation does not handle sensitive account details. | 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 | The Pay by Bank page directs organisations to contact the sales team and links to the allpay Help Centre for support. | TrueLayer says its team provides technical support and dedicated integration sales managers who scope products, run tests and troubleshoot issues. |
| What it does | Pay by Bank lets customers pay directly from their bank account using Open Banking, without entering card details. | TrueLayer Payments lets businesses accept Pay by Bank payments directly from customers’ bank accounts. |
| Who it serves | The page highlights housing associations, local authorities, income collection and rent teams, utilities, billing organisations, and organisations managing high-volume regular payments. | The page presents Pay by Bank for ecommerce, iGaming, financial services, travel and crypto businesses. |
In their own words
Pay by Bank from allpay
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 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.