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What is the Pay by Bank app? Uses for consumers and retailers

There is a new revolution in the way people can pay for items and services using their phones and it’s called Pay by Bank. This new style of payment online provides added security for consumers purchasing anything from clothing to takeaways. But how exactly does it work? Continue reading our helpful guide to discover more about the Pay by Bank app.

What is Pay by Bank?

Pay by Bank is a new way of paying on smartphones, tablets and computers that gives you added security when shopping online. It allows you to purchase items through your chosen bank account in a couple of easy taps, rather than entering all your personal bank account details into the website, essentially helping you to hide this information.

Prior to the introduction of Pay by Bank, a user would have to enter all their personal information, including address, phone number, email address and, of course, debit or credit card number. With the Pay by Bank app, consumers can now simply press a button that leads them back to their online banking app to confirm the payment.

Not only is this a great time-saver when shopping online, but it provides a much higher level of security for consumers. Have you ever purchased an item off a website you’ve never used before? We all have. Are you totally sure how secure that website is, or how trustworthy it is? Well with the Pay by Bank app, you can hide all your information behind your online banking app, which you can trust.

Pay by Bank app advantages for consumers

There are a number of benefits associated with the Pay by Bank app for consumers, and they are:

  • Peace of mind - There’s absolutely no sharing of payment information and there is improved security from the user’s bank.
  • Convenience - There is nothing new to download with no new passwords required, and no payment details created.
  • Choice - Provides visibility of all connected retailers on a user’s banking app.
  • Control - Balance updates before and after payment, with money moving almost immediately.

Pay by Bank app advantages for retailers

Just it is beneficial for consumers, Pay by Bank app also has several benefits for retailers, which are:

  • Increased sales - Retailers can maximise basket conversions with Pay by Bank offering a smooth and trusted checkout experience.
  • Reduced fraud - Pay by Bank provides near-elimination of online fraud with transactions authenticated in the customer’s banking app.
  • No fraud liability - Helps to shift fraud liability to the customer’s bank, resulting in fewer chargebacks.
  • Easy to integrate - Pay by Bank app is an omnichannel payment solution that can be implemented via your website or app.

Payment services with Interbacs

Managing your cash flow and making payments has never been easier with Interbacs’ Bacs payment services. If your business has a Service User Number (SUN) but would rather outsource the administration involved with Direct Debit collections, our Bacs Approved Bureau services can minimise internal processing, saving you time and money.

For businesses without a SUN, our Facilities Management service lets you make Direct Debit collections without bank sponsorship. Our Direct Debit Management System (DDMS) makes it easy to edit, cancel and create new Direct Debits.

If this sounds like something your business needs, or you’d like to hear more about the services we offer, don’t hesitate to contact us on 0161 667 0758 or email us at