Pay By Bank, powered by
Open Banking
Instant bank to bank transfer payments made easy, no card, account numbers or sort codes required.
- Receive funds instantly when a transaction is complete
- Increased convenience for customers with no need to remember card information
- Transaction fee is up to 75% cheaper than alternative methods
Key benefits of Pay By Bank
Add bank-to-bank transfer options to your online payment journey, and receive funds straight away, free from any risk of chargebacks and card-not-present (CNP) fraud.
Customers can pay directly on desktop, mobile, or using their banking app, without the need to remember sort codes or account numbers.
All powered by the open banking initiative, with 13.3 million active users and 40% user growth year-on-year.
- Eradicates fraudulent transactions (and no chargebacks)
- No charges for failed payments
- Ability to offer VRP (Variable Recurring Payments) for weekly, fortnightly, monthly, etc.
- Highly secure as customers use their online banking login
- Stand out from the competition with the latest payment offering, powered by the Open Banking Initiative
- Easy for customers to pay on desktop or mobile device
CREATE Fertility streamlines their payment journey with Pay By Bank
Alongside debit and credit card options, IVF patients can pay directly via their banking app, without the need to remember sort codes or account numbers.
The reduction in calls coming to our team from patients looking to solely process a payment towards their treatment will deliver operational efficiencies and feedback from our team has been positive. The new services are quick and easy in comparison to previous methods, and incorporating these new ways for patients to pay 24/7, 365 days a year has provided a much better customer service.
The reduction in calls coming to our team from patients looking to solely process a payment towards their treatment will deliver operational efficiencies and feedback from our team has been positive. The new services are quick and easy in comparison to previous methods, and incorporating these new ways for patients to pay 24/7, 365 days a year has provided a much better customer service.
CREATE Fertility streamlines their payment journey with Pay By Bank
Alongside debit and credit card options, IVF patients can pay directly via their banking app, without the need to remember sort codes or account numbers.
How can Pay by Bank be used?
Pay by Bank is an innovative payment solution that has grown significantly in popularity since its introduction in 2016. At Key IVR, we offer two ways for customers to use this payment method: for individual transactions and for setting up convenient payment plans.
See below to learn how each option works:
1
When making a payment online, Customers can select the Pay by Bank option available on the screen. This can be alongside other payment methods such as Card, PayPal etc.
2
The amount to pay can be open or set to the total amount due.
The customer can confirm the amount before proceeding to pay.
3
4
5
6
1
When making a payment online, Customers can select the Pay by Bank option available on the screen. This can be alongside other payment methods such as Card, PayPal etc.
2
The amount to pay can be open or set to the total amount due.
The customer can confirm the amount before proceeding to pay.
3
4
5
6
1
The customer or organisation sets up a payment plan, either for weekly, fortnightly, monthly, etc.
2
The customer then chooses whether they’d like the payment plan to be paid via Card, or Pay by Bank. They can then confirm the plan before proceeding.
3
A list of all major UK and European banks will appear. The customer selects the bank which they would like the payment plan to come from.
4
5
They can then select which account to set up the payment plan from. No sort code, account number, card number or expiry details are required.
6
Once the payment plan is confirmed, the Customer is taken back to the online checkout screen, advising them that the payment plan has been set up successfully.
1
The customer or organisation sets up a payment plan, either for weekly, fortnightly, monthly, etc.
2
The customer then chooses whether they’d like the payment plan to be paid via Card, or Pay by Bank. They can then confirm the plan before proceeding.
3
A list of all major UK and European banks will appear. The customer selects the bank which they would like the payment plan to come from.
4
5
They can then select which account to set up the payment plan from. No sort code, account number, card number or expiry details are required.
6
Once the payment plan is confirmed, the Customer is taken back to the online checkout screen, advising them that the payment plan has been set up successfully.
Works with all major UK & European banks
And many more…
What is Open Banking?
Pay By Bank is powered by open banking, the process of banks and other financial institutions opening up data for anyone who consents to allow the access, use, and sharing of their details. The goal is to improve financial services and increase transparency for customers and was introduced as part of the Payment Services Direct (PSD2). As a result, new applications and payment methods are being developed for businesses and customers alike.
How Popular Is It?
As of July 2025 Open Banking in the UK hit 15.16 million users. The adoption of this payment method has grown rapidly in recent years, with 1 in 5 consumers and businesses now using it, up from 1 in 7 back in 2021. Total users increased by 34% over the past year alone, highlighting strong and sustained year-on-year growth. This momentum reflects rising consumer demand for secure, convenient, and transparent financial solutions, as Open Banking continues to evolve from a niche innovation into a core component of modern financial services. (Source: openbanking.org.uk)
How much could you save?
Like what you see? Submit your details below to take the next steps
Want to know more?
Interested in adding card-less options to your customer’s online payment journey?
Talk to us and we’ll help you decide if Pay By Bank will work for you.
Sophie Chan
Head of Revenue & Relationships
Services that work for everyone, including…
Debt Recovery
Housing
Travel Agents
Charities
Services that work for everyone, including…
Debt Recovery
Housing
Travel Agents
Charities
Contact Centre Teams
Latest news
A New Chapter in a Longstanding Relationship: Key IVR Partners with Forthwise
Key IVR Named as Supplier on G-Cloud 15 for Secure Payment Services
Housing Sector Right Now: Simplifying & Improving
