Powering smarter payments: how Interchecks is advancing Pay by Bank for modern use cases

Dylan Massey, Co-Founder and CEO of Interchecks, elaborates on the potential of Pay by Bank, showcasing how different approaches and models could further the payment method.

What does Interchecks do, and what are the core services it provides?

Interchecks helps businesses modernise how they move money. We provide a flexible deposits and withdrawals platform that supports a range of payment methods, including Pay by Bank, real-time payment (RTP), and push-to-card. Our solutions are designed to simplify payments, reduce costs, and improve the user experience (UX) across industries.

What sets us apart is our use case-driven approach. Whether a company needs to collect deposits with low risk, pay out users instantly, or enable custom-branded payment flows, we tailor our platform to meet those needs with the right mix of APIs, no-code tools, and compliance support.

We’ve become a trusted partner in industries like gaming and financial services, and we’re actively expanding into verticals where speed, scale, and control matter most.

Compared to traditional payment methods, where do you see the strongest advantages of using Pay by Bank?

For businesses, the most immediate value is cost efficiency. By moving funds directly between bank accounts and bypassing card networks, companies can significantly reduce transaction fees. There’s also a meaningful reduction in fraud and chargebacks, since bank authentication adds a layer of security that cards and wallets often lack.

As Pay by Bank adoption continues to grow, we see its potential not just as a lower-cost alternative but as a smarter, more secure way to build better payment experiences.

How will Interchecks further streamline the Pay by Bank experience for merchants, and how do you expect the broader Pay by Bank landscape to evolve over the next few years?

Interchecks is focused on making Pay by Bank work better for the merchant, not just on integrating the functionality but ensuring it fits seamlessly into their workflows, compliance needs, and UX. We streamline the process through several key capabilities: real-time account verification, single-click repeat payments, and flexible return options. This gives our clients greater control, better insights, and fewer support tickets – all while maintaining regulatory rigour.

Importantly, we don’t believe in a one-size-fits-all solution. Whether our clients want to initiate Pay by Bank via API or no-code tools, embed the flow directly in their product, or manage risk thresholds differently for first-time versus repeat users, we build around what makes the most sense for their business and customers.

Looking ahead, we expect the broader Pay by Bank landscape to continue maturing, with better user education, more reliable bank integrations, and deeper coverage across verticals. Interchecks is especially focused on expanding use cases beyond gaming wallet loads into brokerage funding, subscription payments, and insurance, where faster, lower-cost, account-to-account (A2A) payments can unlock real value. We’re excited to help shape that evolution by combining thoughtful design with practical implementation.

Interchecks positions its Pay by Bank model as fundamentally non-guaranteed. How does this approach differ from guaranteed models, and what are the key implications for merchants?

Guaranteed Pay by Bank models remove non-sufficient funds (NSF) risk by having the provider take on the liability, but this comes at a premium. In many cases, the added fees for that guarantee can offset the cost savings merchants are seeking with Pay by Bank in the first place.

Most non-guaranteed options on the market today offer lower fees, but little to no NSF risk management, leaving merchants exposed to failed transactions that can cost them 3% or more. That’s a major barrier to adoption.

Interchecks takes a different approach. We offer a non-guaranteed model with built-in NSF risk mitigation. Our system uses a combination of smart risk controls and bank data to manage NSF exposure upfront. And if a transaction does fail, we’ve developed a NACHA-compliant collections process to help merchants recover funds – a feature that’s often missing or ineffective in other non-guaranteed solutions.

The result is a non-guaranteed model that’s sustainable: merchants get the cost advantages of direct A2A payments, without absorbing unnecessary risk. It’s a more balanced, merchant-friendly approach that puts control and savings back in their hands.

Which use cases do you expect will drive mainstream adoption of Pay by Bank, and how does Interchecks support developments in this direction?

We believe the next wave of Pay by Bank adoption will be driven by high-frequency, high-volume payment use cases – especially where speed, cost-efficiency, and fraud reduction are mission-critical. We are looking at verticals like brokerage platforms, neobanks, and digital marketplaces.

These businesses face intense pressure to move funds quickly and securely, whether it’s disbursing wages, settling trades, or paying out sellers. Pay by Bank offers a direct, low-cost path to doing that, with fewer intermediaries and more control. However, adoption hinges on having a solution that fits their operational and regulatory realities.

That’s where Interchecks comes in. We don’t just enable Pay by Bank – we tailor it to the use case. Whether a client needs API-first integration or real-time risk controls, we adapt our product to their unique needs. We also offer both white-labelled tools and programmatic infrastructure to meet companies where they are in their product maturity.

While gaming helped prove the value of instant, low-cost deposits, we see even broader potential across financial services, and we’re actively investing in capabilities that help those sectors adopt Pay by Bank with confidence.

 

This editorial piece was first published in The Paypers' Account-to-Account Payments Report 2025, which features insights into global trends, key players, partnerships, and the next phase of the A2A evolution. Access the full report to understand where the A2A payments ecosystem stands today and what’s next.

 

About the author

Dylan Massey is the Co-Founder and CEO of Interchecks, a fintech company specialising in modern payment solutions. With extensive experience in payments and technology, Dylan leads Interchecks in delivering flexible, compliant, and use case-driven payout and deposit services. He is passionate about driving innovation in fintech and expanding Pay by Bank adoption across industries, helping businesses modernise money movement and improve customer experiences.

 

About Interchecks

Interchecks is a modern payments platform enabling businesses to send and receive funds quickly, securely, and compliantly. With flexible, API-driven solutions for deposits, withdrawals, and more, Interchecks serves fintech, financial services, gaming, and other industries, simplifying complex payments and empowering companies to scale with confidence.