TrueLayer, a UK-based payments network, has launched Pay by Bank payments in Finland.
The service will be available via Kustom Checkout, which provides checkout services to more than 24,000 online merchants across the Nordics. Stripe, an investor in TrueLayer, powers the rollout as part of the implementation.
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Under the arrangement, merchants using Kustom Checkout can offer shoppers an instant bank payment option at checkout. TrueLayer’s open banking technology enables customers to pay directly from their bank accounts, while Stripe supports the payment flow through its payments infrastructure.
Kustom Finland country manager Mikko Karjanlahti said: “We know how important it is for merchants to offer payment methods that local shoppers know and trust to drive conversion. Having the right payment options in place can determine whether a customer completes the purchase.
“With more local payment options available, it is easier for merchants to provide a relevant shopping experience regardless of market.”
The companies said the integration aims to give shoppers a local payment option in Finland and reduce the need for card entry during checkout.
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By GlobalDataThe rollout begins this month and will soon be available to all Kustom merchants.
Last year, Stripe and TrueLayer introduced Pay by Bank to merchants in the UK, France and Germany. The Finland launch extends that availability to another European market.
TrueLayer Finland country manager Ulf Klavér said: “Finland has one of the highest rates of online banking adoption in Europe, making it the perfect environment for Pay by Bank to thrive.
“Working with Stripe and Kustom, we’re enabling thousands of merchants to offer a faster, safer way to pay – one that’s built for local consumers but powered by a pan-European network.”
