Pay by Bank from allpay lets customers pay an organisation from a bank account using Open Banking. At checkout, customers select Pay by Bank, choose their bank, and approve the payment in their banking app or through online banking. The payment flow provides confirmation near instantly, and settlement speed is listed as instant. Since the customer authorises the payment through their bank, the organisation does not handle sensitive account details. allpay positions the account-to-account service as an alternative to card payments: it says bypassing traditional card networks can lower processing costs, while avoiding expired card details, incorrect entries and manual input can help reduce failed or abandoned transactions. The service is rolling out across allpay’s digital platforms, starting with the allpayments app and online payment journeys using hosted payment pages; Gateway Plus support is coming soon. The page highlights housing associations, local authorities, rent and income collection teams, utilities, billing organisations and organisations handling high volumes of regular payments. allpay describes Pay by Bank as a secure, FCA-regulated payment method. The company says it is PCI DSS compliant. Pay by Bank is paid, with pricing available on request, and listed for Android, iOS and web.
Who it is for
Pay by Bank suits housing associations, local authorities, rent and income collection teams, utilities and billing organisations that manage regular payments at high volume. It may fit organisations looking to offer account-to-account payments through digital checkout journeys.
What is good
- Customers pay from their bank account without entering card details.
- Bank authorisation means the organisation does not handle sensitive account details.
- Payment confirmation is near instant, with instant settlement listed.
- Can help avoid payment errors linked to expired cards and manual entry.
- Listed for Android, iOS and web.
What to know first
- Pricing is available only on request.
- Gateway Plus support is coming soon.
- The service is paid.
Verdict
Organisations collecting rent, bills or other regular payments can consider Pay by Bank for bank-authorised account-to-account checkout. Its payment flow avoids card entry and keeps sensitive account details with the customer’s bank. Organisations needing Gateway Plus should look elsewhere until support arrives.
Get started with Pay by Bank from allpay
- Visit the allpay Pay by Bank website.
- Contact allpay’s sales team for pricing.
- Offer the payment option through the allpayments app or hosted payment pages as it rolls out.
- At checkout, customers select Pay by Bank, choose their bank and authorise payment in their banking app or online banking.
Limits to know first
Pricing is on request. Gateway Plus support is coming soon; no date is given.
Questions about Pay by Bank from allpay
How much does Pay by Bank cost?
It is a paid product, and pricing is available on request.
Which platforms are listed?
Android, iOS and web.
How do customers authorise a payment?
They select their bank and approve the payment in their banking app or through online banking.
Which allpay services support it?
It is rolling out through the allpayments app and online payment journeys using hosted payment pages. Gateway Plus support is coming soon.
Who makes Pay by Bank?
It is offered by allpay, which was established as Financial Collection Services Ltd in 1994.
Does the organisation receive the customer's bank details?
Customers authorise payments through their bank, so the organisation does not handle sensitive account details.
Compared on open banking payment platforms
- Bank authentication
- redirect
- Settlement speed
- instant
