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Pay by Bank is an Open Banking payment solution that allows customers to pay merchants directly from their bank account, without using a debit or credit card.

How It Works

  • Customer selects Pay by Bank at checkout.
  • Chooses their bank.
  • Authenticates using their banking app (e.g., biometric or OTP).
  • The payment is authorized and transferred directly from the customer’s bank account to the merchant.
  • The merchant receives payment confirmation.
See the Pay by Bank experience for a visual walkthrough of the checkout flow.

Where It Works

Eurozone and UK
  • Austria
  • Belgium
  • Czech Republic
  • Estonia
  • Finland
  • France
  • Germany
  • Ireland
  • Italy
  • Latvia
  • Lithuania
  • Netherlands
  • Norway
  • Poland
  • Portugal
  • Spain
  • Sweden
  • United Kingdom

Payment Method type

Users can use the below payment method type to create a transaction using Bank Initiation in the available geography
  • Europe: bank_initiation_eur
  • United Kingdom: bank_initiation_gbp

Functionality

Limits and Expiration

The following is the upper and lower limits for Bank Push transactions:
  • Minimum Limit: USD 0.01
  • Maximum Limit: EUR 15000, GBP 15000

Webhook

The following are the details returned in the webhook post a successful transaction.
  1. Payer Bank Name
  2. Payer Name
  3. Payer Account number

User Experience

  • Mobile - Redirect Experience (deeplink)
  • Web - Embedded Flow (deeplink)