Mollie’s recent launch of Pay by Bank is another clear signal that account-to-account payments are moving into the mainstream. That is good news for the European payments market.
At IBANXS, we strongly believe in the potential of Pay by Bank. It gives businesses a secure, direct way to accept payments from a customer’s bank account, using the authentication environment customers already know and trust. It can reduce dependency on card schemes, bring greater payment certainty and create a more efficient payment experience across Europe.
But not every Pay by Bank proposition serves the same customer or operates at the same layer of the payments ecosystem.
A merchant solution versus payment infrastructure
Mollie offers Pay by Bank as part of a broad payment suite for merchants. A business can add the payment method to its checkout alongside cards, local payment methods and other Mollie services. Mollie manages the merchant relationship, the payment flow and the merchant balance.
IBANXS takes a different approach. We provide the Open Banking infrastructure behind Pay by Bank for Payment Service Providers, fintechs and software platforms. Through a single API integration, our partners can embed bank payments into their own products, journeys and customer relationships.
This means a PSP can offer Pay by Bank to its own merchant base while retaining control over its proposition, user experience and commercial model.
Same direction, different role
Both approaches help accelerate the adoption of account-to-account payments. The difference is primarily one of focus.
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| Built primarily for merchants | Built primarily for PSPs, fintechs and software platforms |
| A complete payment-service proposition | Open Banking payment infrastructure |
| Merchants add Pay by Bank to the Mollie checkout | Partners embed Pay by Bank in their own platform or payment proposition |
| Mollie manages the merchant relationship and payment balance | Partners retain their customer relationship and user experience |
| Pay by Bank alongside cards and local payment methods | API-first bank connectivity for scalable A2A payment use cases |
IBANXS is also designed for organisations that want more than a single checkout method. In addition to single payments, our platform supports payment links, bulk payments and recurring payment flows. Through Account Information Services, partners can also add real-time bank-data capabilities for use cases such as verification, affordability assessments and financial insights.
Infrastructure that keeps options open
The payments market does not need one universal answer. Merchants may prefer an all-in-one payment provider. PSPs and platforms may need the flexibility to build their own differentiated payment proposition.
That is where infrastructure matters.
IBANXS enables secure, compliant and scalable bank connectivity across Europe, without imposing a separate consumer wallet or taking ownership of the end-customer relationship. Our partners decide how Pay by Bank appears in their product, how it fits into their payment journey and how they create value for their customers.
The momentum behind Pay by Bank is growing. We welcome it.
Because every successful implementation brings Europe closer to a payment landscape that is more open, more competitive and less dependent on legacy card infrastructure.
Want to explore how Pay by Bank can strengthen your PSP or platform proposition? Get in touch with IBANXS