DEPLOYMENT · EU
Pay by Bank adoption accelerates across Europe and UK as alternative to card payments
Pay by Bank—a direct bank account payment method bypassing credit/debit cards—is gaining traction in European and UK markets. Latest research shows consumer and merchant appetite for open banking–based payments as regulatory and fraud pressures mount on card schemes.
WHY IT MATTERS
Signals shift in payment infrastructure from card networks to bank-to-bank rails; could reduce card-scheme dependency and fraud liability for BFSI, but requires investment in API standardization and settlement rails.
Source: Finextra · 2026-10-20