Stripe, a programmable financial services company, has announced the upcoming launch of Pay by Bank in France and Germany. This product builds on the successful partnership between Stripe and TrueLayer in the UK, where Pay by Bank has revolutionised payments for both merchants and customers.

By offering a direct Pay by Bank payment method, Stripe is streamlining the checkout experience for French and German businesses, improving conversion rates and significantly reducing transaction fees. With Pay by Bank payments consumers bypass entering card details and instead authorise payment directly from their bank accounts, typically via biometric methods.

Stripe’s Pay by Bank product leverages TrueLayer's open banking infrastructure, which connects to bank accounts across Europe. The Stripe x TrueLayer integration in France and Germany follows growing consumer adoption of Pay by Bank in both countries, where major businesses such as Ryanair have launched the payment method and introduced it to consumers. Pay by Bank payments within the European Union are expected to reach 30 billion in 2028, and Germany and France - Europe’s largest economies - will be a key driver of this growth.

Key Benefits of Pay by Bank for French and German businesses:

Reduced Payment Fees: With Pay by Bank, businesses can avoid card processing fees, leading to lower overall transaction costs.

• Faster Transactions: Payments are processed in real-time, helping merchants to improve cash flow and reduce payment delays.

• Enhanced Security: Pay by Bank leverages secure, bank-approved authentication, using biometric authentication to verify transactions.

• Improved Conversion Rates: With a seamless and familiar payment method, consumers are more likely to complete transactions, improving merchants’ sales outcomes.

The France and Germany launches build on Truelayer’s success in these markets. The two countries are TrueLayer’s largest markets outside of the UK, with on the ground presence in each country and a growing customer base including local and international businesses.

Annually, TrueLayer processes €2 Bn in Pay by Bank transactions in France and €1.4bn in Germany. In France and Germany, TrueLayer processes approximately 60% and 30% of all Pay by Bank transactions, respectively. French and German merchants see an average 42% uplift in conversion from consumers in the TrueLayer Pay by Bank network. In France and Germany, the Pay by Bank integration will soon be available to all Stripe users. The integration process is simple, and businesses can begin offering this payment option to customers immediately via Stripe’s payment platform.

Sebastian Vetter, TrueLayer's Country Manager Germany, added:

“Having seen the success of Stripe’s TrueLayer integration in other markets, we are thrilled to bring this innovative payment solution to Germany and France. By leveraging TrueLayer's open banking infrastructure, we’re enabling German and French businesses to accept payments directly from bank accounts, making transactions faster, safer, and more affordable.”