Pay by Bank. Your best investment yet
We lead payments innovation in financial services by helping businesses adopt easy, fast, safe and flexible ways for customers to manage their money, cutting operational costs in the process.
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How is Pay by Bank boosting bottom lines?
Across the financial service sector, Pay by Bank is having a profoundly positive impact on business. By cutting out complicated card networks, we’ve also cut-out the high fees associated with them.
We’ve eradicated time-consuming manual data input for customers and created smooth payment journeys that feel easy and intuitive. This helps create great products that customers love using.
Cut costs
Pay by Bank doesn’t rely on card networks, helping you save on transaction fees and streamline your operational processes.
Faster settlement
Payments made via cards or BACs can take up to five days to settle, with Pay by Bank, settlement is instant.
Resilience
Pay by Bank has a higher payment acceptance rate thanks to zero manual data entry and biometric security inherent in bank apps.
Reduced fraud
Biometric authentication means peace of mind for your customers and reduced fraud and chargeback costs for you.
71% of our customers chose Pay by Bank as their preferred method of payment ... we've [also] seen a 36% reduction in our payment processing costs.
Read the case studyHeather Le Quesne
Head of Finance Operations
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TrueLayer has provided the most cost-effective way of taking customer deposits. Having this simple and low-friction way of depositing, which is scalable in terms of business requirements, is fundamental to our next phase of growth.
Read the case studyDamon Roberts
Product Manager
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We liked that we could capitalise on TrueLayer's learnings from previous customers, both from a technical and user experience viewpoint. It meant we could develop our journeys at an accelerated rate.
Mike Squires
Director of Product
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We’re market leaders in innovation
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Digital-first innovation
We’re at the forefront of digital-first innovation in financial services. We work in every sector from digital banks and insurers to loans and investment companies. We create simpler, safer and faster payment technologies that work harder for merchants.
A fairer system
As a market leader, we’re recognised for our influence on frameworks like the National Payments Vision. With more direct bank connections than most, and eMoney licence, we reduce costs and improve reliability, avoiding inefficiencies caused by intermediaries.
Merchant-first innovations
Our innovative solutions are tailored to specific merchant needs. We proudly pioneered Pay by Bank in financial services. And we’re at the forefront of exciting new technical capabilities such as Variable Recurring Payments (VRP).
Responsive
In an unpredictable world we respond fast with innovations that help businesses adapt and offer their customers better choices. We prioritise our merchant partnerships and proactively solve issues with banks.
Say hello to Variable Recurring Payments (VRP)
VRP is the next exciting stage in Pay by Bank, it offers more flexibility, as well as speed, security, and efficiency as standard. Customers can set up repeat payments of varying amounts, as well as maximum payment amounts, change collection dates and make instant payment cancellations.
We all know financial obligations can be stressful, VPR helps protect people against failing to meet payment dates. And by giving more control to the customer, we’re helping them feel more confident, and boosting brand loyalty as we go.
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“By offering variable recurring payments, we’ve given our customers greater flexibility in managing their card repayments. This allows them to adjust their payments based on their changing financial situation, without the stress of fixed amounts or time delays. It’s been a win-win helping our customers manage their commitments more comfortably while also fostering trust and loyalty
In 2025 VRP will launch in regulated industries
So far VRPs have been limited to me-to-me payments, such as moving money from your current account to your savings account, also known as sweeping payments.
New legislation changes mean consumers will now be able to make variable recurring payments to regulated financial services. So it’s good news for investments, insurance and debt management, mortgages and pensions.
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Why do 40% more investors convert with Pay by Bank ?
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Instant payments
Often customers can’t afford to wait for their money to move. Pay by Bank moves money instantly, so you catch market movements in the moment.
Secure by design
Biometric security in bank-apps means customer data and funds are always secure. No card details to remember or store online.
Easier management
Customers can set maximum payment amounts, collection dates and make instant cancellations, which helps them respond to life.
Easy to use
The user experience has minimal steps, utilising customers’ bank apps where authentication of payments happens seamlessly via FaceID.
Smart add-ons for even more speed and security
Why choose to work with us?
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Direct integration
Simple, transparent, fast and 100% API based. Our range of options include SDK’s and HPP’s and all the one-to-one support you need.
Local expertise
We’re experts across Europe with nuanced understanding of user behaviour by region. Our designs are customised and optimised for the people using them.
Agile and adaptable
We are adaptable, move fast without needing to go up a command chain for approval. We can help you innovate at pace and respond to any challenge.
Get started
Talk to us
Our teams are on hand to advise and answer your questions.
Want to learn more?
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What the financial services industry needs to know about VRP changes
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What is Pay by Bank? Everything you need to know in 2025
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TrueLayer hits 10 million consumers, acquiring a new user every 3 seconds
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