PayTrueQR

PayTrueQR enables UK businesses to receive payments directly from customers by scanning a QR code, eliminating the need for traditional card‑based transactions. The service leverages Open Banking APIs to initiate transfers from the payer’s bank account to the merchant’s account, providing instant settlement of funds.

By routing payments through the Open Banking network, the platform reduces transaction costs by more than 70 percent compared with typical card‑payment fees. The implementation follows bank‑grade security standards, ensuring that data exchange and authentication meet stringent regulatory requirements.

The solution is aimed at merchants seeking a low‑cost, fast alternative to card processing, particularly those that can integrate QR‑code checkout into their point‑of‑sale or online ordering workflows. It is currently offered in an experimental stage for UK‑based businesses.