🚨 PAYMENTS: TrueLayer Launches Verified Payouts to Deliver Instant, Fully Compliant Withdrawals to the Right Bank Account Every Time

TrueLayer, Europe’s fastest growing payments network, today announced the launch of Verified Payouts – a new solution that guarantees funds are paid out to the same verified account they were deposited from, instantly and in full compliance with regulatory guidance.

Verified Payouts combines TrueLayer’s Instant Payouts technology with its Verification capabilities, matching each withdrawal request to the original depositing account using the customer’s name and transaction history. This ‘closed-loop’ approach ensures that payouts are made to the right place every time – reducing fraud, preventing misdirected payments, eliminating costly manual processes and increasing customer satisfaction.

Furthermore, once verified, customers are seamlessly defaulted to Pay by Bank for future deposits; reducing payment friction, lowering transaction fees, and decreasing fraud.

Developed in close collaboration with merchants across financial services and iGaming, Verified Payouts was co-created to directly address the operational, regulatory, and customer experience challenges they face with existing payout systems.

🔹 A better way to pay out

For regulated industries such as iGaming and Financial Services, payout compliance is essential. Yet traditional card-based withdrawals are slow, expensive, and prone to failure.

Verified Payouts bypasses outdated methods by moving money directly between bank accounts via Faster Payments. The result: funds land in the customer’s account within seconds, with a 99.7% returning user payout success rate.

🔹 Benefits for merchants include:

· Closed-loop compliance – Meets UKGC and FCA guidelines by ensuring funds are returned to the same verified account used for deposits.

· Cost savings – Avoids card scheme fees by using direct bank-to-bank payments.

· Operational efficiency – Automated retries and intelligent rerouting cut failed payments and reduce customer service queries.

· Frictionless repeat payments – Once linked, a customer’s verified bank account becomes their default for future deposits and withdrawals.

Source: FF News | Fintech Finance

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