TrueLayer, the UK’s largest Pay by Bank network, has announced the appointment of Basil Bailey as the CEO of TrueLayer Ireland and General Manager of TrueLayer’s European business.In his dual role, Basil Bailey will oversee the commercial and regulatory functions of TrueLayer Ireland, which holds a European Payments Institution (PI) license and is regulated by the Central Bank of Ireland. He will also manage TrueLayer’s European operations. Additionally, Basil has been appointed as an Executive Director of the TrueLayer Ireland board.Basil brings a wealth of leadership experience within the payments industry. He has held the role of Managing Director of JPMorgan’s Acquiring business in EMEA and served as CEO and Director of the company’s two European Acquiring and Issuing entities.Basil has also held senior roles at Fiserv as well as PayPal where he was Global Director of Financial Services, and at Borderfree as Director of Global Consumer and Commercial Payments. Prior to this Basil was the Chief Commercial Officer of Orbiscom which was subsequently acquired by MasterCard where he then worked for many years holding a number of key senior positions most recently as VP of Global Strategic Alliances. Prior to entering payments Basil had an extensive career in IT and Telecoms where he held many senior marketing and commercial positions including being Marketing Director of Horizon Technology Group and also Esat Telecom where he was MD of their SME business.Basil Bailey joins TrueLayer at a time of significant growth, as the company’s leading Pay by Bank solution is gaining rapid adoption among e-commerce merchants and consumers

"The past few months have been a tipping point for the adoption of Pay by Bank by merchants and consumers…", said Francesco Simoneschi , Co-Founder and CEO of TrueLayer.said , Co-Founder and CEO of TrueLayer. TrueLayer processes almost half (40%) of all Pay by Bank payments in the UK, making it the largest Pay by Bank network in the UK.Ecommerce is the fastest growing sector for adoption of Pay by Bank, with TrueLayer experiencing a 5X year-on-year increase in ecommerce transaction volume.Some of Europe's most successful brands, including Ryanair, JustEat and Lastminute.com, have added TrueLayer's Pay by Bank method into their checkouts recently.LONDON, Feb. 12, 2025 /PRNewswire/ -- TrueLayer, Europe's leading Pay by Bank provider, is proud to announce that its consumer network has now surpassed 10 million active users, with a new user now joining every 3 seconds. This rapid growth highlights the accelerating demand for seamless, secure and cost-effective digital payments, with TrueLayer's Pay by Bank solution leading the charge.To date, TrueLayer has processed over $72 billion in payments and currently processes 40% of all UK Pay by Bank transactions[1], making TrueLayer the largest Pay by Bank network in the UK. These milestones underscore the growing consumer preference for Pay by Bank – a payment method that offers consumers an easy, fast and secure way to pay online without the need for card details.Consumer Adoption Trends:In the UK alone, Pay by Bank transactions have more than tripled over the past three years, reaching 23 million monthly payments in 2024[2]. Consumers are increasingly choosing to Pay by Bank because it eliminates the need for card details, reduces the risk of fraud and provides instant payment confirmation