UK-based OpenPayd, a banking-as-a-service platform, has partnered with UK-based TrueLayer, an open banking payments platform, to expand product reach by offering instant account-to-account (A2A) payment solutions across the UK and Europe.

The new service will enable OpenPayd’s clients to offer pay-by-bank functionality fully embedded into their payment infrastructure and delivered through their OpenPayd API integration. Through this, end users can initiate and authenticate payments directly via their banking app.

Analyst QuickTake: TrueLayer has entered several partnerships to enhance the banking and payment solutions of several FinTechs. Last October, the company partnered with Stripe to enable the latter to launch A2A payment on checkout from European merchants. Prior to that, TrueLayer launched a partner program that provided other FinTech companies, such as Airwallex , Nuvei , and Thunes , the opportunity to leverage its open-banking APIs.