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, growing 500% since 2020.
- Eradicates fraudulent transactions (and no chargebacks)
- No charges for failed payments
- 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.
David Gilbert - Chief Financial Officer
"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."
David Gilbert - Chief Financial Officer
"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
How does Pay By Bank work?
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.
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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.
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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 2023, over 1 in 9 Brits use Open Banking services as Open Banking payments reach record high. The first six months of 2023 also saw double the volume of payments compared with the first six months of 2022. A record 9.7m payments were made in June 2023, an increase of 88% on the same month in 2022.
How much could you save?
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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.
Mark Kelly
Chief Commercial Officer (CCO) (UK) & VP International Sales (US)
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
Debt Collection & Enforcement
Collection and card processing needs to be fast, reliable and convenient for both debtors and your staff. Whether you take payments on the phone, via an automated IVR, online or in person we can provide a bespoke, PCI-DSS Compliant solution, comprised of payment methods that work seamlessly together
Utility Suppliers & Providers
Travel Agencies & Tour Operators
Our services can be tailored to meet the specific needs of the travel sector, providing a range of payment methods to suit your individual requirements
Property Management & Housing Associations
Managing and maintaining the incoming funds from tenants is a crucial day-to-day process for any housing association, But, keeping track of this can often be tricky, especially when there are many areas to oversee
Charities & Not for Profit
Managing and maintaining the incoming funds from tenants is a crucial day-to-day process for any housing association, But, keeping track of this can often be tricky, especially when there are many areas to oversee
With Key IVR’s PCI-DSS compliant solutions, not for profit organisations can offer their donators the best experience during the fund-raising process – along with protecting their sensitive data