TrueLayer, one of Europe’s largest open banking payment networks, has formed a partnership with Ryanair, Europe’s largest airline group. This collaboration is already underway and represents an important milestone for both companies.

Ryanair customers can now use Pay by Bank when booking flights, offering a fast, secure and seamless payment experience. It comes as TrueLayer continues to expand within the e-commerce sector, having also recently entered some of Europe’s biggest e-commerce sites, including brands such as Just Eat Takeaway and Lastminute.com.

The addition of Pay by Bank also improves payment confidence. This proved invaluable during the CrowdStrike outage, which left travel operators unable to process card payments and resulted in global losses of more than £4 billion. Meanwhile, merchants offering Pay by Bank continued to receive payments without problems.

Adoption of open banking payments is growing rapidly, with UK Pay by Bank payments tripling to 21 million in the past two years. The UK government also recently outlined its ambition to make this form of payment ubiquitous in the UK.

TrueLayer CEO Francesco Simoneschi said on his LinkedIn page: “You can now pay by bank with Europe’s largest airline, Ryanair, Europe’s favorite airline, powered by TrueLayer! This is a major milestone for Pay by Bank in the e-commerce space and brings us closer to Pay by Bank becoming a ubiquitous payment method as envisioned in the National Payments Vision Big thanks to the amazing team at Ryanair for his collaboration to make it possible. It’s clear why Ryanair is a global success story, given how quickly they adopt innovation that benefits their customers.”

“TrueLayer partners with Ryanair” was originally created and published by International electronic paymentsa trademark owned by GlobalData.

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