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Pay by Bank
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Overview
Forget the friction of traditional bank transfers. Pay By Bank streamlines the process, allowing your customers to pay directly from their bank account with just a few taps. It’s secure, instant, and eliminates the need for manual data entry, making reconciliation a breeze for your business. Offer a faster, smoother checkout experience that builds customer trust and reduces abandoned carts.
Pricing
Pay by Bank
0.90% + £0.20
.
Trustpilot
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Safeguard your business with the highest security standards.
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Sell more with a personalised, branded checkout built for conversion.
What is Pay by Bank and how does it work?
The term ‘Pay by Bank’ refers to payment methods that allow customers to pay for their purchases directly from their bank accounts without using cards. It’s a convenient and cost-effective option for both consumers and businesses. To put it simply, Pay by Bank leverages the bank’s secure infrastructure and Open Banking principles (under PSD2), providing enhanced security and low transaction fees.
How do I activate Pay by Bank?
Already a customer?
If you are a Mollie customer, you can simply add the new payment method in your Dashboard.
Not a customer?
If you’re not an existing customer get started and add it in your Dashboard during the sign-up journey.
Note: This payment method is currently still in beta. If you’re already a Mollie customer, you can request beta access with our Customer Success team.
What are the benefits of Pay by Bank through Mollie?
The benefits of Pay by Bank through Mollie include lower transaction costs than traditional card payments, enhanced security and faster transactions. On top of that, there is no chargeback risk since Pay by Bank is a guaranteed payment method.
Which banks support Pay By Bank?
Mollie dynamically manages which banks support Pay By Bank, ensuring seamless coverage for your customers. This payment method connects directly with a broad network of major banks within each country where it's available. Your customers can consistently pay directly from their preferred banking app, providing a smooth and localised experience tailored to their region. We ensure comprehensive support across all relevant financial institutions for Pay By Bank.
Is Pay By Bank safe?
Pay By Bank is built on the highest security standards, leveraging secure open banking technology where payments occur directly between bank accounts. This significantly reduces fraud risks, as customers authenticate every payment within their own highly secure banking environment. Mollie ensures that all these direct bank connections are fully compliant and protected, giving both you and your customers complete peace of mind. You can trust that your Pay By Bank transactions are handled securely.
What integrations do you support for this method?
£69.99
Sneaker laces
Sneaker laces
23/09/2022 17:29
€69.99
Paid
Consumer name
T. Otter
Are you already a Mollie customer?
Simply activate the new payment method in your Dashboard.