Pay by Bank App
With the UK’s Pay by Bank bank-transfer app (PbBa), transactions take place in real-time. It works through the consumer’s existing banking app and consumers can see their account balance before making the payment. Each PbBa payment is made directly from the bank account and uses secure digital tokens, meaning no financial details are revealed. Crucially, verification is handled by the bank app. To make a payment from a smartphone or desktop, the consumer selects PbBa at checkout, which directs them to their existing banking app to complete the payment. Supported banks include Barclays and HSBC.
Want to integrate Pay by Bank App onto your platform?
Get in touchWhy Pay by Bank App
All transactions are authenticated by the customer’s own bank app – therefore fraud liability is shifted to the customer’s bank resulting in fewer chargebacks.
Consumers enjoy security and convenience while Merchants benefit from processing and settlement in near real-time.
Britons use bank transfers to pay for 7% of all their e-commerce purchases, an e-commerce volume worth approximately US$ 20 billion (PPRO Almanac).
Specifications
Coverage
Currencies
Features
How it works
At online checkout, the consumer selects PbBa as the preferred payment method
The consumer receives a PbBa code with instructions for completing payment
The consumer logs in to their banking app and enters the PbBa code
The transaction is displayed in the app for review and confirmation
Payment is con firmed