Open banking provider TrueLayer has appointed Michael Brown as its new Head of E-Commerce, according to a statement from the firm. TrueLayer said the hire was part of push into more verticals as open banking adoption grows.
Prior to joining the Fintech, Brown was Director of UK Enterprise Sales at PayPal, where he focused on strategy across retail, grocery, iGaming, and travel. Brown was at PayPal for more than a decade.
TrueLayer notes that it has recently announced a partnership with UK retailer Topps Tiles, which has over 300 physical stores across the UK. TrueLayer works with other retailers including Cazoo. TrueLayer believes that poor payments processes results in a huge number of shopping carts being abandoned online and their services can help ameliorate this challenge.
Brown commented on his new position stating that open banking payments have the potential to transform customer experience in eCommerce, especially for merchants using legacy systems.
“We are seeing increasing adoption of open banking by merchants and consumers alike and I am incredibly excited about the opportunity for TrueLayer in ecommerce, as Europe’s leading open banking payments network.”
