Pay by Bank from allpay lets customers pay an organisation directly from a bank account through Open Banking, without entering card details. At checkout, a customer selects the option, chooses a bank, and approves the payment in a banking app or online banking; confirmation arrives near instantly. Since approval happens with the bank, the organisation does not handle sensitive account details. The service is intended for housing associations, local authorities, rent and income collection teams, utilities, billing organisations, and other organisations managing high volumes of regular payments. allpay says direct account payments can lower processing costs by bypassing traditional card networks. Avoiding expired cards, incorrect entries, and manual input may also help reduce failed or abandoned transactions. The rollout is starting with the allpayments app and online payment journeys using hosted payment pages; Gateway Plus support is listed as coming soon, with no date provided. The product is listed for Android, iOS, and web. Pricing is available on request. allpay describes the payment method as secure and FCA-regulated, and says the company complies with PCI DSS.
Who it is for
Pay by Bank is aimed at organisations collecting regular payments, including housing providers, local authorities, utilities, and billing teams. It may suit organisations seeking an account-to-account option for customers paying online or through a mobile app.
What is good
- Customers approve payments through their own bank
- Confirmation arrives near instantly
- Avoids entering card details
- Available through mobile app and hosted payment journeys
What to know first
- Pricing is available only on request
- Gateway Plus support is coming soon
- No date is given for Gateway Plus availability
Verdict
Pay by Bank provides an account-to-account alternative for organisations collecting regular payments. Review the rollout status for the payment journey you plan to use, particularly if you need Gateway Plus.
Compared on open banking payment platforms
- Bank authentication
- redirect
- Settlement speed
- instant
