Pay by bank, coming soon. Straight from your customer's bank account.
Your customer will choose their bank, approve the payment in their banking app, and the money moves by Faster Payments. No card number to type, and no card fees on the payment. Cards, wallets and Direct Debit are available today.
How pay by bank will work
Pay by bank is not live yet. When it is: at checkout, on a payment link or on an invoice, your customer picks pay by bank and chooses their bank. Their banking app opens, they approve the exact amount with their usual login or face ID, and the payment is sent over Faster Payments. You see it confirmed straight away.
It runs on open banking, regulated in the UK, so the customer never shares their card or bank details with you.
- Approved in the customer's own banking app
- Sent by Faster Payments
- No card details to store or protect
- Works at checkout, on links and on invoices
When pay by bank is the better option
Large payments
Deposits, balances and invoices where card fees add up.
Repeat customers who pay by transfer
The same bank-to-bank payment, without the reference that gets mistyped.
Lower fraud risk
The customer approves inside their bank, so there is no stolen card to use.
Faster money
Payments move by Faster Payments rather than waiting on card settlement.
Questions about pay by bank
It is coming soon, and not available on Synapto accounts yet. Cards, Apple Pay, Google Pay and Direct Debit are available now. Tell us you want it and your account manager will let you know when it is live for you.
The money moves the same way, but the customer does not type your bank details or a reference. They approve a payment we have already filled in, so it arrives with the right amount and reference.
Pay by bank payments are not card payments, so card chargeback rules do not apply. You can still refund a customer, and refunds are handled from your Synapto account.
No. Offer it beside cards and wallets, and customers choose. See every payment method.
Add pay by bank when it launches.
Thirty minutes on how your customers pay today, what you can take now, and where pay by bank would save you money once it is live.