TrueLayer, Europe’s fastest-growing payments network, has reported a record-breaking month in April, processing over $10 billion in total payment volume (TPV). The milestone positions the company on pace to exceed $100 billion in annualized volume, underscoring its rapid ascent as a leader in the Pay by Bank space.
The company continues to gain traction across key sectors including eCommerce, food, and hospitality, offering instant, secure, and low-cost bank payments. In Q1 2025 alone, TrueLayer added more than 500,000 users per month, bringing its total user base to 13 million by April.
“Consumers and merchants are moving en masse to Pay by Bank – and they’re choosing TrueLayer. This isn’t just about volume. It’s about velocity. We’re building the real-time payment network for Europe and the momentum that we’re seeing proves that we’re solving a real problem for both sides of the market.” said Francesco Simoneschi, CEO and Co-Founder.
TrueLayer’s surge in adoption is driven by growing demand for instant payments and refunds on the consumer side, and secure, cost-efficient payment alternatives on the merchant side. By embedding Pay by Bank directly into checkout flows, leading brands such as Ryanair, Revolut, and Just Eat are improving customer experience, boosting conversion rates, and reducing transaction costs.
With momentum building across the ecosystem, TrueLayer is solidifying its position as the category leader in real-time, bank-powered payments in Europe.
Views of Financial Technology Frontiers (FTF):
Advancements in technology in companies such as TruLayer reflect the accelerating shift towards open banking and Pay by Bank solutions within the payments landscape. This echoes the current trend where consumers and merchants alike are demanding faster, more secure, and cost-effective alternatives to traditional card payments. The demand for instant refunds and reduced fraud are becoming increasingly critical differentiators in a competitive market and pushing other payment providers to innovate and adapt to this evolving landscape.
Source:
https://truelayer.com/blog/announcements/truelayer-hits-10-billion-tvp-in-april-alone/
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Editorial Team: Narasimham Nittala
