TrueLayer buys Dutch fintech In3 to add credit at checkout

UK-based payments fintech TrueLayer has moved to broaden its offering beyond direct bank debits by acquiring Dutch credit specialist In3. The deal positions TrueLayer to combine account-to-account payments with consumer credit options at online checkout, aiming to challenge the dominance of card networks in European ecommerce.

With the acquisition, TrueLayer is seeking to build a homegrown alternative to major card schemes such as Visa and Mastercard, using open banking technology to streamline payments and reduce fees and fraud for merchants and consumers.

TrueLayer expands from debit into credit

TrueLayer, backed by investors including Stripe and Tiger Global, has built its business around open banking–powered account-to-account transfers, often branded as “pay by bank”. These payments move money directly between bank accounts, bypassing traditional card rails and their intermediaries.

Until now, the company’s focus has been on debit-style transactions, where funds are taken immediately from a customer’s bank account. By acquiring In3, a Dutch fintech with expertise in offering consumer credit via bank payments, TrueLayer is adding credit-based options to its network.

The transaction brings In3’s roughly 20 employees into TrueLayer. Financial terms of the deal were not made public.

Pay by bank meets credit at checkout

TrueLayer says the acquisition makes it the only pay by bank network in Europe to offer both debit and credit options at the point of checkout. Shoppers using merchants connected to TrueLayer will be able to choose between paying immediately by bank transfer or using credit-based products offered over the same rails.

The first product to launch using In3’s capabilities will be a Buy Now, Pay Later (BNPL) solution, designed to let consumers spread purchases over time. TrueLayer also plans to roll out longer-term credit products later in the year, though it has not yet disclosed specific structures or timelines.

According to the company, its pay by bank technology offers transparent pricing with no hidden fees for merchants and is designed to mitigate fraud risks compared with card payments, thanks to direct bank authentication and fewer intermediaries.

Challenging card dominance in European ecommerce

Despite rapid growth in open banking–based payments, card transactions still dominate consumer spending. Figures cited from the Financial Times highlight that open banking accounted for 27 million payments in the UK in March 2025, according to Open Banking Limited. Over a similar period, the Payments Systems Regulator recorded 1.92 billion card transactions in February, underscoring the scale gap between the two methods.

Even so, TrueLayer points to data showing that pay by bank transactions now represent up to 17 percent of European ecommerce transaction value. As more merchants and consumers become familiar with bank-based payments, the company is betting that linking these payments with flexible credit products will hasten adoption.

TrueLayer’s merchant clients already include major names such as Amazon, Just Eat Takeaway, and Coinbase, giving the fintech a broad base from which to introduce its new credit offerings.

Building a European alternative to US card networks

TrueLayer operates across 22 countries and reports processing more than $150 billion in annualised payment volume. By integrating In3’s consumer credit expertise, the company is positioning itself as a stronger European counterweight to US-based card schemes and technology providers.

CEO and co-founder Francesco Simoneschi said that combining In3’s team and credit know-how with TrueLayer’s network and products will help create an independent European payments infrastructure that does not rely on traditional card networks.

The deal also comes at a time when European policymakers and market participants are increasingly discussing the region’s dependence on foreign technology and financial institutions. By expanding its capabilities into credit, TrueLayer is seeking not only to capture more ecommerce volume but also to play a larger role in shaping Europe’s next-generation payments landscape.