Digital payment processor Segpay has broadened the reach of its Pay by Bank product by launching in six additional European countries.
The expansion builds on earlier deployments in Germany and the UK, bringing the service to Belgium, Finland, France, Ireland, the Netherlands, and Spain.
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According to a statement, the Pay by Bank service is powered by TrueLayer and uses real-time payment networks, including SEPA Instant in the European Union and Faster Payments in the UK.
Consumers use the system by choosing their bank during checkout and completing authentication within their standard mobile banking application. Approvals typically rely on biometric checks, including facial or fingerprint recognition.
“Pay by Bank gives customers a way to pay directly from their bank accounts without using a credit or debit card,” the statement added.
Direct clearing between bank accounts removes card network chargebacks for merchants. The system also includes native functionality for merchant-directed refunds.
Segpay president and CEO Cathy Beardsley said: “Not every customer wants to pay with a credit card, and we want to make sure our merchants have options.
“Pay by Bank gives them another way to accept payments, without the chargeback concerns that come with traditional card transactions.”
The service applies exclusively to one-time transactions settled in EUR (€) and GBP (£). Supported merchant billing structures include Segpay’s One-Time, Digital Purchase, and Dynamic Pricing configurations. Pay by Bank does not currently accommodate recurring billing models.
Earlier this year, Brite Payments also launched its Pay by Bank service in the UK after securing an Electronic Money Institution (EMI) licence.
