TrueLayer teams up with Dublin’s Strikepay to improve payments

1 Nov 2022

Strikepay co-founders Oli Cavanagh and Charles Dowd. Image: Strikepay

Strikepay customers will now be able to connect and verify their bank details instantly.

Irish payments and tipping platform Strikepay is partnering with open banking player TrueLayer.

The partnership will allow Strikepay customers to instantly connect and verify their bank account details to get paid.

“Previously our customers had to enter their bank account details manually to receive cash out, which was time consuming and led to mistakes like incorrect IBANs being entered,” said Strikepay CEO and co-founder Oli Cavanagh.

“Working with TrueLayer we now have an instant and reliable way for customers to connect and verify their bank accounts, which is better for our customers and for our support team who have less errors to deal with.”

Cavanagh founded Strikepay with Charles Dowd in 2020. The Dublin-based start-up is developing payment technology to enable cash-free tipping.

Its instant payment terminal uses NFC and QR code technologies to enable people to tap and pay with any phone, with no other hardware required.

Strikepay is being used by nearly 7,000 merchants in Ireland and the UK across various sectors such as hospitality and services.

“We live in a world where very few people pay by cash any more – this, for many small businesses and professionals, has meant a reduction in income and increased hassle for their customers,” added Cavanagh.

Joe Morley, general manager of TrueLayer Europe, said that the region is witnessing a growth in use of open banking technologies to deliver digital services to customers, including small businesses and professionals trying to get paid.

“Not only will [the Strikepay partnership] ensure that the whole process is seamless for customers, but also one that is fit for purpose especially as the vast majority of consumers want, and indeed are already accessing, financial services technology and products.”

TrueLayer launched its closed-loop payments product in Ireland and a number of countries across Europe earlier this year as part of an international expansion.

Although based in the UK, TrueLayer opened its European HQ in Dublin last summer. In September 2021, the start-up achieved unicorn status after a $130m round involving Stripe.

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Vish Gain is a journalist with Silicon Republic