Plaid has launched one click payments to offer a faster, more intuitive Pay by Bank experience for its customers, designed to increase trust for users and conversion for businesses.
The solution simplifies Open Banking for Pay by Bank users, delivering a more accessible journey. For returning users and those who selected their bank in the onboarding process, one click automatically recalls their preferred bank and removes the selection pane entirely. This aims to remove unnecessary steps, meaning fewer clicks, faster checkouts, and a more convenient experience for shoppers.
Faster Pay by Bank in Europe
Returning users are familiar with the Pay by Bank process, but points of friction like re-selecting a bank can make a negative impact. One clock aims to remove this issue by mimicking the flows of other trusted payment experiences and making bank and app logins more convenient.
A set of targeted UX changes will improve the journey and flow, driving performance. These include auto-selected bank, refined UX, and prominent logos. Remembered bank selection ensures returning customers skip the bank selection step for a faster checkout, UX upgrades are inspired by payment experiences users already know and are familiar with, and a logo size change will enable shoppers to recognise their bank and business logo faster.
All these improvements will reduce cognitive load, build trust, and keep users moving faster through the process. One click is now live for all Pay by bank users across Plaid’s 18 European markets. The initiative comes after the company rolled out other solutions, such as LendScore and Transfer for Platforms.
Transfer for Platforms combines multi-rail money movement with Plaid’s platform and integrated risk tools to offer faster onboarding, wider adoption of ACH, and fewer returns, supporting vertical SaaS platforms. LendScore, on the other hand, is a credit risk score that uses real-time cash flow data and insights to offer lenders an up-to-date view of borrower risk.
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