TrueLayer, a European open banking payments network, has
announced a partnership with digital lender Jaja Finance. This collaboration
will enable credit card repayments for Jaja customers. Jaja will use
TrueLayer’s Payments product to offer instant pay-ins, allowing customers to
make one-off credit card repayments directly from their bank accounts.

Offering Instant Repayments

This new functionality is now available on Jaja’s Vanta
Credit Card. It is also available for Jaja’s partner brands, including Post
Office, Asda Money Credit Card, and Asda Money Select Credit Card. These credit
cards are linked to Asda’s rewards program.

Jaja’s partnership with Asda Money has been effective.
Consequently, Jaja recently introduced its own brand credit card, the Jaja
Vanta Credit Card.

Mariko Beising, VP of Financial Services and Partnerships,
TrueLayer said: “Open banking-powered instant payments are a simpler, safer and
more intuitive option than legacy repayment methods, and they integrate
seamlessly into the customer journey.”

“TrueLayer is attractive to companies that value the
customer experience. With its commitment to best-in-class technology and
customer-centric products, Jaja consistently prioritises their end users. We’re
proud to partner with them on fast, frictionless credit repayments.”

Smoother credit card repayments? Yes please! 👀 We’re excited to work with @Jajafinance to bring open banking payments to users across the UK 🤝 Read all about it here: https://t.co/x9ewU89Lsb pic.twitter.com/CSTOsJeOfe

— TrueLayer (@TrueLayer) June 11, 2024

Repayment Feature for Money Management

The new repayment process is designed to be more intuitive
and user-friendly. It auto-populates fields, so customers do not need to enter
data manually. The payment links to an individual’s bank app, making the
experience safer and smoother.

Settlements are instant, and repayments reflect
immediately in the customer’s bank account. This feature aims to make money
management easier and clearer.

Lucas Dalglish, Chief Commercial Officer, Jaja Finance,
said: “Increasingly our customers are looking for heightened sophistication in
the way they make their payments – faster, slicker and more secure.”

“TrueLayer’s
open banking-powered instant payments capabilities means we can continue to
harness the future of payments while optimising our technology and enhancing
our customer’s user experience.”

This article was written by Tareq Sikder at www.financemagnates.com.

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