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5 Pay by Bank challenges: myth vs reality

Separating myth from reality on Pay by Bank and the future of the checkout.

5 pay by bank challenges

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What is Pay by Bank header

The complete guide to Pay by Bank: what is it and how does it work?

The complete guide to Pay by Bank, the fast-growing online payment method, offering an alternative to cards. Should your business be offering it at checkout?

Ask me anything Labour conference

Unlocking the next decade of payment growth: snap reactions from the Labour Party Conference

Explore key outcomes from Labour Party 2025 in Liverpool and what they mean for UK merchants, open banking, and the National Payments Vision.

Pay by bank phone

Pay by Bank protections: a modern approach

With the continued growth of Pay by Bank, how do we continue to make it the most convenient and safest way to pay?

Hey, I'm Andy from TrueLayer, and I'm going to try and tell you everything you need to know about Pay by Bank—in just ninety seconds. Let’s start the clock. Let’s keep it simple. What is Pay by Bank? It’s a payment method that lets you pay directly from your bank account via your banking app—with zero need for card networks. That could mean buying pizza, paying for flights, or just about anything in between. And it’s actually pretty easy—and very quick. It looks a bit like this: start by tapping the Pay by Bank button, then choose your bank from the list. If you’ve used it before, we can even preselect your preferred bank. You then review the payment, and you’re seamlessly redirected to your bank app to approve it using secure biometrics. That’s Face ID or a fingerprint, to you and me. And that’s it—success. But no time to relax—we're on the clock! Now, this might be the first time you’re hearing about it, but every month in the UK, 27 million payments are made using Pay by Bank. And most people who haven’t tried it yet say they’d be happy to—if given the option. On the merchant side, nine out of ten businesses are already planning to adopt it in one way or another. So what’s in it for businesses? Number one: more potential sales. No cards means no long card numbers, no clunky 3DS2—just a smoother experience from start to finish. And it converts. Number two: because payment details are pre-populated and verified with biometrics, things like card-not-present fraud, chargebacks, and authorized push payment fraud are virtually eliminated. Number three: lower costs. Without all the intermediaries and manual admin, the total cost of Pay by Bank is typically lower than card payments. I'm running out of time—one last benefit: instant refunds. And trust me, shoppers love instant refunds. And breathe. That was a lot to cram into ninety seconds. If you’d like to take your time and learn more about Pay by Bank—and why brands like Just Eat Takeaway, lastminute.com, Ryanair, and Papa John’s already offer it at checkout—you can read our in-depth guide. There should be a link on screen now. And that’s it. Thanks for watching.

Everything you need to know about Pay by Bank in 90 seconds

Get up to speed on Pay by Bank, how it works and its main benefits in just 90 seconds.

5 pay by bank challenges

5 Pay by Bank challenges: myth vs reality

Separating myth from reality on Pay by Bank and the future of the checkout.

Pay by Bank report

The Pay by Bank 2025 update is in, here's the TLDR

Find out everything you need to know about the quiet revolution happening at the checkout.

Consumer protections in ecommerce a charged debate

Consumer protections in ecommerce: a charged debate

It's time for a much-needed debate on the future of payments, and the path forward for Pay by Bank.

A hand holding a one euro coin

Pay by Bank: the fast route to payment sovereignty

With recent events highlighting the need for payment autonomy in Europe, we explore why Pay by Bank is the simplest and most-effective solution.

National Payment Vision

Government boosts Pay by Bank with National Payments Vision

The Government has published its long-awaited National Payments Vision? What does it mean for account to account payments and Pay by bank?

What are continuous payment authorities (CPAs)?

Find out everything you need to know about continuous payment authorities, including how they work, advantages and disadvantages, and available alternatives.

Phone UI showing a recurring payment screen

Involuntary churn: everything you need to know

Involuntary churn can limit your brand’s growth if left unchecked. Learn everything you need to know in order to reduce it and improve your recurring revenue.

Payments API text with lines coming on and off screen

What is an online banking payment API?

Online payment APIs are the standard when adding new payment methods to your online business. But what are bank payment APIs & how do they work?