Salt Edge Payment Initiation vs TrueLayer Payments
Salt Edge Payment Initiation
saltedge.com
TrueLayer Payments
truelayer.comSide by side
| Figure | Salt Edge Payment Initiation | TrueLayer Payments |
|---|---|---|
| Price from | — | — |
| Free plan | — | — |
| Free trial | — | — |
| Open source | — | — |
| Web | Yes | Yes |
| iOS | — | Yes |
| Android | — | Yes |
| API | Yes | Yes |
| Plans published | 1 | 0 |
| Spec score · Open Banking Payment Platforms | 7.1 (#13) | 7.2 (#12) |
| Founded | 2013 | 2016 |
| Headquarters | Toronto, Canada | London, United Kingdom |
| Security | Salt Edge says it is ISO 27001 certified and PCI DSS compliant, and uses TLS encrypted channels, multiple encryption layers, and tokenisation. | 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. |
| What it does | Pay by bank enables account-to-account payments from customers’ bank accounts through open banking connectivity. | TrueLayer Payments lets businesses accept Pay by Bank payments directly from customers’ bank accounts. |
Plans
In their own words
Salt Edge Payment Initiation
Salt Edge Payment Initiation enables account-to-account payments from bank accounts through open banking connectivity. One API integration supports payments from more than 2,700 banks across Europe and the UK. A customer selects a bank, reviews and consents to payment details, then authenticates and approves the transfer through that bank. Salt Edge says instant payments run 24/7 and usually finish within seconds. Listed uses include e-commerce, e-wallet top-ups, loan repayments, corporate payments, and travel settlements and refunds. Corporate workflows can use recurrent, scheduled, bulk, and batch payments, with standardized templates for bank and regional requirements. The API provides redirect-based bank authentication, payment webhooks, and refunds. Salt Edge describes TLS-encrypted channels, layered encryption, tokenisation, ISO 27001 certification, and PCI DSS compliance. It monitors systems and services and offers clients a 24/7 incident-reporting channel. The company was founded in 2013 and is headquartered in Toronto. Pricing is on request through sales or a demo.
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.