Stripe and TrueLayer have joined forces to roll out the Pay by Bank payment method in France and Germany. This is a smart move in response to growing demand for fast, secure and affordable payment options — for customers and businesses alike. Whether you already use Stripe or not, this development is interesting for anyone who wants to improve their checkout, increase margins and retain customers. What does this mean for your business? Let's take a look.
Imagine a checkout where customers don't even have to take out their wallets. With Pay by Bank, they pay directly from their bank account with a single click and biometric confirmation. That's it!
This offers significant benefits for entrepreneurs operating in France and Germany:
Lower costs: No more high-card network fees, so you get a better margin per transaction.
Faster money in your account : No waiting days for your money, better for your cash flow.
More conversions: Fewer dropouts at checkout, up to 42% higher purchase completion rates.
Are you active in these markets or planning to expand? Then, adding Pay by Bank to your payment options is a smart move.
Not using Stripe yet? No problem — this move mainly shows that open banking is becoming increasingly serious in Europe. Demand for it is growing, even outside Stripe.
Are you already using Stripe? Great, then you can easily activate Pay by Bank via your Dashboard.
Do you already have an open banking solution? This will give you a head start, but keep an eye on developments. The collaboration between Stripe and TrueLayer raises the bar for user experience.
Major players such as Ryanair are already using it.
TrueLayer processes ~€2 billion per year in France and ~€1.4 billion in Germany, where it has a market share of 60% and 30% respectively.
Pay by Bank payments are expected to reach a value of €30 billion in Europe by 2028.
So it's no longer just hype — consumers want it, and entrepreneurs are reaping the rewards.
Stripe is a leading payment service provider that enables entrepreneurs to accept online payments, manage subscriptions, prevent fraud, and grow internationally. In addition to credit cards and wallets, Stripe also offers access to new payment methods such as Pay by Bank, allowing you to respond to customer preferences in Europe.
TrueLayer is a European open banking provider that enables businesses to securely connect to bank accounts for payments, account information, and recurring transactions. They process around €40 billion annually and specialise in bank-to-bank payments. TrueLayer provides the technology behind the Pay by Bank option now available through Stripe.
Pay by Bank is an open banking payment method: customers pay directly from their bank account via a secure connection, often with biometric confirmation (fingerprint or facial recognition). Because it utilizes open banking technology, customers no longer need to enter their card details, and payments are both cheaper and faster.
Open banking is the broader infrastructure and regulatory framework that enables this, and Pay by Bank is a concrete application of this in the checkout process of online shops and apps.
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