TrueLayer, the European open banking payments network, has appointed Sebastian Vetter as Country Manager to lead the company’s push in Germany as the market matures for open banking payments.

Before joining, Sebastian was at Payoneer where he led the go-to-market activities for SMEs in Germany, Austria and Switzerland, with a focus on import/export businesses in manufacturing and ecommerce, marketplace sellers and professional service providers.

Prior to this, Sebastian was at Mangopay for over 6 years. He first established the DACH region in 2016, where he and his team grew transaction volumes from €10 million to over €500 million in just 3 years. He then went on to help launch local offices in the Netherlands, Nordics and Poland, overseeing the further growth, localisation and alignment of these markets under a new North-Eastern EU region.

This news comes off the back of growth for TrueLayer in Germany, with total payments volumes doubling year on year since 2021. TrueLayer has also recently stated that their Payouts product has reached a 99.3% success rate in the country, along with a coverage of over 93% for instant payments.

Sebastian joins at a very exciting time for EU payments, with regulatory changes afoot in PSD3. At the same time, a commercial space is emerging via the SEPA Payment Account Access scheme, which will bring open banking-based A2A payments to European ecommerce.

Sebastian Vetter, Country Manager Germany, at TrueLayer, said:

“It’s truly a perfect time to join TrueLayer given their strong momentum in transaction volume and conversion growth and an increasing appetite for open banking/finance services within Germany and Europe as a whole. We have experienced a significant shift in the banking sector’s perception and adoption of open banking over the last few years, and consumers are becoming more and more aware of the benefits they will be able to reap from it.

I am thrilled to start working alongside an incredibly talented international team to deliver innovative value for both consumers and merchants on a path to a more secure, standardised and open future of payments.”

Commenting, Max Emilson, Chief Commercial Officer, at TrueLayer, said:

“I’m extremely excited to welcome Sebastian to the TrueLayer team. His track record of seriously scaling commercials in the region, while at the same time localising payment product offerings is unmatched. With the way things are shaping up for open banking payments in Germany, this is going to be invaluable for us as we continue to grow adoption in the region!”

Featured image credit: Sebastian Vetter, Country Manager Germany, at TrueLayer