Plaid vs TrueLayer Payments
Plaid
plaid.com
TrueLayer Payments
truelayer.comSide by side
| Figure | Plaid | TrueLayer Payments |
|---|---|---|
| Price from | — | — |
| Free plan | — | — |
| Free trial | Yes | — |
| Open source | — | — |
| Web | Yes | Yes |
| iOS | Yes | Yes |
| Android | Yes | Yes |
| API | Yes | Yes |
| Plans published | 4 | 0 |
| Spec score · Open Banking Payment Platforms | 7.5 (#9) | 7.2 (#12) |
| Integrations | Plaid's partner directory lists partners including Dwolla, Checkout.com, and Humble Devs. | TrueLayer lists Shopify and Magento plugins and libraries for Java, PHP, C#, and JavaScript/Node. |
| Notable limit | Plaid does not connect every financial institution, and an institution may be removed if Plaid can no longer reliably access its data. | TrueLayer’s ecommerce plugins are available in the UK only. |
| Security | Plaid's security portal lists SOC 2 Type 2, ISO 27001, and ISO 27701 certifications. | 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 | Plaid customers can use self-service resources and its Dashboard AI assistant; enhanced support tiers may be available to Custom plan customers. | TrueLayer says its team provides technical support and dedicated integration sales managers who scope products, run tests and troubleshoot issues. |
| What it does | Plaid helps people securely connect financial accounts to apps and services they choose, and lets them manage those connections. | TrueLayer Payments lets businesses accept Pay by Bank payments directly from customers’ bank accounts. |
| Who it serves | Plaid describes Pay as You Go as best for individuals and developers, Growth for small teams and startups, and Custom for businesses that need to scale. | The page presents Pay by Bank for ecommerce, iGaming, financial services, travel and crypto businesses. |
Plans
Plaid
- TrialFree
- CustomPriced on request
- GrowthPrice not published
- Pay as You GoPrice not published
In their own words
Plaid
Plaid connects financial accounts to apps and services people choose, and lets them manage those connections. Its products cover payments, fraud and risk, financial management, and onboarding. Plaid Link connects users to more than 12,000 financial institutions, while Transactions offers up to 24 months of categorized transaction data. Plaid Transfer processes bank payments through ACH, RTP, and FedNow. Available data includes account and routing numbers, balances, identity, transactions, investments, liabilities, income, and statements, with statements in PDF format. Connections can use credentials, OAuth, app-to-app OAuth, or manual and micro-deposit flows; refreshes are on demand. Developers can use official API libraries for Node, Python, Ruby, Java, and Go, plus Link SDKs for web and mobile. Plaid Portal lets users see connected apps, manage permissions, and disconnect accounts. Plaid lists SOC 2 Type 2, ISO 27001, and ISO 27701 certifications. Pricing is on request; there is no general free plan, though an eligible free Trial plan is listed for certain US and Canada teams created on or after April 15, 2026.
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.