Pay-by-Bank in the UK

UNIPaaS has added Pay-by-Bank to our single checkout experience to enable digital platforms to offer faster, simpler, and more secure bank transfers.

Pay-by-Bank is powered by Open Banking and lets consumers and businesses use the Faster payments scheme to make instant bank transfers. This payment method is especially advantageous for businesses, which prefer to pay and be paid by direct bank transfers, but have traditionally faced a payment experience filled with friction and security issues.

To enhance the capability of digital platforms to scale, UNIPaaS now also allows for the automation of bank transfer reconciliations and other payment methods.