Pay by Bank is a payment method powered by Open Banking that enables customers to pay directly from their bank account to a business in real time, without using cards or intermediaries. As a brand proposition, Pay by Bank leverages secure bank authentication to authorize payments instantly while reducing friction at checkout. 

Built on Open Banking frameworks first introduced in markets such as the UK under the Open Banking Implementation Entity and across Europe through PSD2, Pay by Bank uses regulated APIs to securely connect merchants with customers’ banks. For consumers, it offers a seamless, card-free experience authenticated through their trusted banking app; for merchants, it delivers faster settlement, lower processing costs, and reduced fraud risk. In essence, Pay by Bank translates the infrastructure of Open Banking into a clear, customer-facing payment brand built on speed, security, and transparency. 

Getting the brand and trust is really important for open banking payments - taking these domains shows there's still quite a bit of work to do if Pay by Bank is to become the trusted brand...