TrueLayer, a European Open Banking Payments Network, Partners with Jaja Finance

TrueLayer, Europe’s open banking payments network, announces a partnership with digital lender Jaja Finance to enable credit card repayments.

Jaja will leverage TrueLayer’s payments product “to offer instant pay-ins, allowing customers to make one-off credit card repayments directly from their bank account.”

This functionality is now live on Jaja’s Vanta Credit Card and “the lender’s partner brands, including Asda Money Credit Card and Asda Money Select Credit Card, which are linked to Asda’s rewards program.”

These types of credit repayments are “more intuitive and customer-centric – auto-populating fields so that customers don’t have to input data manually.”

The payment is linked to an individual’s bank app – “making the overall experience safer and smoother. Settlement is also instant and repayments are reflected immediately in the individual’s bank account, which makes money management easier and clearer.”

Mariko Beising, VP of Financial Services and Partnerships, TrueLayer said:

“Open banking-powered instant payments are a simpler, safer and more intuitive option than legacy repayment methods, and they integrate seamlessly into the customer journey. TrueLayer is attractive to companies that value the customer experience. With its commitment to best-in-class technology and customer-centric products, Jaja consistently prioritises their end users. We’re proud to partner with them on fast, frictionless credit repayments.”

Following the success of Jaja’s partnership “with Asda Money, for the Asda Money Credit Card and Asda Money Select Credit Card, the digital lender recently launched its own brand credit card, Jaja Vanta Credit Card – the next step in its ambitious growth plans to become the UK’s leading digital lender.”

Ahead of the full partnership launch, 50% of Jaja customers “chose TrueLayer’s account-to-account payments over other single payment options.”

TrueLayer is Europe’s open banking payments network.

They claim to power smarter, safer and faster online payments “by combining real-time bank payments with financial and identity data.”

Businesses big and small use their products “to onboard new users, accept money and make payouts in seconds, and at scale.”

Their products are deployed “across 21 countries and 20 million users trust us to process their transactions.”

They aim to remove barriers and friction “in the most crucial element of commerce: the point of value exchange.”

They’re on a mission to “change the way the world pays.”

And they won’t stop until they’ve “unlocked the full potential of payments.”

Unlike cards, our payment method is designed “for the online, on-demand world we live in.”

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