Stripe has announced that its Pay by Bank service will soon be available in France and Germany, marking an expansion of its collaboration with TrueLayer.
The move follows the introduction of the same service in the United Kingdom, where it has been adopted by several merchants.
The payment method allows consumers to authorise purchases directly from their bank accounts, typically using biometric authentication. It eliminates the need to input card details and, according to Stripe officials, offers lower transaction costs by bypassing traditional card networks.
Pay by Bank is built on TrueLayer’s Open Banking infrastructure, which links to a wide network of European bank accounts. Businesses using Stripe in France and Germany will soon be able to integrate the payment method via Stripe’s platform.
Increasing adoption and market reach
Consumer use of Pay by Bank has grown in both countries, with companies such as Ryanair introducing it at checkout. TrueLayer currently handles around EUR 2 billion in Pay by Bank transactions annually in France and EUR 1.4 billion in Germany. According to TrueLayer officials, the company is responsible for processing about 60% of such transactions in France and 30% in Germany.
Data from the provider also suggests that businesses using the Pay by Bank method have observed an average increase in completed transactions of approximately 42% compared to other methods. These figures align with recent projections, which expect Pay by Bank transactions within the EU to reach 30 billion by 2028.
According to the official press release, French and German businesses adopting this payment option can potentially reduce processing fees, benefit from near-instant payment settlement, and use secure authentication mechanisms provided by banks. Stripe officials noted that the integration is straightforward and available to all Stripe users operating in these markets.
A representative from TrueLayer said the extension of the Stripe collaboration to France and Germany is intended to make direct account payments more accessible in these economies, highlighting the security and speed advantages of Open Banking-based transactions.
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