Pay by Bank
NewPay by Bank is PPRO's open banking–powered payment method, enabling consumers to pay directly from their bank account at checkout – no card details, no manual data entry, no friction. Built on PSD2-regulated payment initiation services (PIS), Pay by Bank lets shoppers authenticate transactions from their banking app using biometrics or PIN verification.
With a single integration, access coverage across 1,500+ banks in more than eight European markets, including Austria, Belgium, Finland, France, Germany, Ireland, Italy, Lithuania, Netherlands, and Portugal. As open banking adoption accelerates across Europe – the market is projected to grow from USD 9.28 billion in 2023 to USD 44.9 billion by 2030 – Pay by Bank gives merchants a faster, lower-cost alternative to card rails with zero chargebacks and a checkout experience consumers already trust.
Want to integrate Pay by Bank onto your platform?
Get in touchWhy Pay by Bank
Seamless instant payments – Let customers pay directly from their bank account in just a few taps – fast, simple, and secure, with no risk of stolen card details or fraud.
Guaranteed payments, zero chargebacks – Eliminate the headache of chargebacks. Every transaction is authenticated by the consumer’s bank using Strong Customer Authentication, so you get the sale and keep the funds.
Build once, scale continuously – Access extensive coverage with 1,500+ banks as we continue to roll out across Europe. We’ve done the heavy lifting so you can scale through a single, expert connection.
Specifications
Currencies
Features
Payment flow
At checkout, the consumer selects Pay by Bank as their preferred payment method
The consumer is shown the Pay by Bank screen and selects their bank from a searchable list (or enters their IBAN).
The consumer is redirected to their bank's secure login page to authorise the third-party payment initiation.
The consumer receives a push notification from their banking app prompting them to confirm the bank transfer.
The consumer reviews the recipient, amount, and reference inside their banking app, accepts the risk acknowledgement, and taps Confirm.
The banking app displays a transfer confirmation, and funds are sent in real time to the merchant.
The consumer is redirected to the merchant, where a success message confirms the payment has been initiated and the order is complete.