PAY BY BANK FOR EUROPEAN MERCHANTS
The smarter way to pay by bank
Let customers pay directly from their bank account. Net Money combines open banking payments, instant confirmation and account-to-account settlement in one merchant-ready experience.
No cards. No manual bank transfer. No unnecessary payment friction.
One open banking API
Connect customers to relevant banks and initiate secure payments directly to your merchant account.
WHY MERCHANTS CHOOSE A2A PAYMENTS
Move money directly. Keep more of every sale.
Pay by bank replaces card rails with secure account-to-account payments. The result is a faster checkout, lower payment acceptance costs and clear payment status for your operations team.
01
Lower payment costs
A2A payment flows avoid card network interchange and many layers of card processing cost.
02
Fast confirmation
Customers authenticate in their banking app and you receive a payment status in seconds.
03
Bank-grade security
Strong Customer Authentication keeps credentials inside the customer's trusted bank environment.
04
European bank coverage
Reach customers through relevant banks with one integration and a consistent merchant experience.
05
Simple open banking API
Create a payment, redirect the customer and receive the result through a secure webhook.
06
Fewer payment disputes
Bank-authorised transfers reduce card-style fraud exposure and eliminate conventional card chargebacks.
WHAT IS PAY BY BANK?
A direct payment from your customer's bank account
Pay by bank is an online payment method powered by open banking. Instead of entering card details, the customer chooses their bank, authenticates with the bank and approves a pre-filled payment.
As a payment initiation service provider, the platform securely connects the merchant checkout to bank APIs. The payment travels account to account, often called an A2A payment, and the merchant receives an immediate status update.
OPEN BANKING PAYMENTS
Built for a modern checkout
No card number, expiry date or security code. Customers use a familiar bank login and approve the payment with biometrics or their bank's authentication method.
HOW TO ACCEPT PAY BY BANK
Three steps from checkout to confirmation
The customer stays in a bank-native journey while the merchant gets a clear, automated payment result.
01
Customer selects pay by bank
At checkout, the customer chooses pay by bank and selects their preferred bank.
02
Customer authenticates securely
The bank handles identity checks and Strong Customer Authentication in its app or online banking.
03
Merchant receives confirmation
Net Money sends the payment status to your checkout and backend through the open banking API.
COMPARISON CONTENT
Pay by bank compared with card payments
For many European payment journeys, direct account-to-account payments remove cost and complexity while improving settlement speed.
Feature
Net Money pay by bank
Typical card payment
Payment rail
Direct bank-to-bank transfer
Card network and acquirer
Customer input
Bank selection and bank authentication
Card number, expiry date and security code
Settlement
Fast or instant where supported
Often delayed by processing cycles
Chargeback model
No conventional card chargeback
Chargebacks and dispute fees possible
Merchant pricing
Designed for lower acceptance cost
Percentage and fixed processing fees
Integration
One open banking API and webhooks
Gateway, acquirer and card scheme dependencies
OPEN BANKING API
Integrate account-to-account payments without the banking complexity
Use one payment initiation API for your checkout while Net Money manages bank connectivity, customer redirects and payment status updates.
- RESTful payment creation
- Secure redirect and authentication flow
- Webhook-based status updates
- Sandbox support for integration testing
POST /payments
{n "amount": 4999,n "currency": "EUR",n "reference": "ORDER-123",n "redirect_url": "https://merchant.example/confirm"n}
Receive the payment result through your webhook and update the order immediately.
PAY BY BANK FAQ
Common questions about open banking payments
Clear answers for merchants evaluating A2A payments and payment initiation.
What is pay by bank?
Pay by bank is an online payment method that lets a customer approve a direct payment from their bank account. It uses open banking connections and the customer's normal bank authentication instead of card details.
How do open banking payments work?
The merchant creates a payment, the customer selects a bank, authenticates with that bank and approves the transfer. The payment initiation service provider then returns the payment status to the merchant.
What is an A2A payment?
A2A means account-to-account. Money moves directly from one bank account to another without passing through a card network.
Is pay by bank secure?
Yes. Customers authenticate directly with their bank using Strong Customer Authentication. The merchant does not handle bank login credentials.
Can pay by bank reduce merchant costs?
It can reduce payment acceptance costs because the flow avoids card network interchange and removes several card-processing intermediaries.
How is the open banking API integrated?
Merchants create payments through a REST API, redirect customers to the bank journey and receive payment updates through webhooks.
START ACCEPTING PAY BY BANK
Build a better payment journey for your customers
Tell us about your checkout, markets and payment volumes. We will show you how Net Money can support your open banking payments strategy.
Email: sales@net-m.net