Swaps.app Teams up with TrueLayer to Launch Instant Bank Payments

Estonia-based crypto and fiat payment gateway Swaps.app has partnered with TrueLayer in order to deliver secure bank payments in the UK at a lower cost.

Through this partnership, Swaps.app customers will be able to benefit from an improved user experience when funding their investments.

Payments powered by TrueLayer remove the need to enter any card or bank account details. Instead, customers can leverage an Instant Bank Payment option, authenticate their identity, and confirm the payment, which removes the risk of human error. By using this system Swaps.app can bypass card networks and their interchange fees while ensuring all customer payments are authenticated directly with the bank. 

Swaps.app representatives revealed that the company's goal is to make the onramp to cryptocurrencies as straightforward as possible. They also highlighted their partnership with TrueLayer and its role in creating a more intuitive and faster user experience.

TrueLayer officials touched on the importance of speed when it comes to crypto investments and emphasised how slow settlements can cause customers to lose trust in platforms and miss out on opportunities. They also mentioned the importance of Open Banking and how it can deliver fast, frictionless, safe, and secure experiences.

(Source: The Paypers)