Pay by Bank Now Live

Today we launched Pay by Bank as the newest addition to our payment method stack, giving our partners and their merchants a powerful tool to improve checkout conversion while offering customers a payment option they trust.

Pay by Bank allows customers to pay directly from their bank accounts using their online banking credentials. This payment method aligns with how customers already manage their daily payments, offering a familiar and secure checkout experience that helps reduce friction and support higher conversion rates.

Why customers want Pay by Bank

Across the Nordics, customers are increasingly choosing Pay by Bank at checkout when shopping online. This trend is clear in markets where direct bank payments and open banking flows are well established, with customers expecting payment options that align with how they already manage their everyday payments. As digital habits continue to shape how people shop, customers want payment options that fit naturally into their routines without adding unnecessary steps at checkout.

Pay by Bank meets this demand by offering a familiar, secure and instant payment method that customers know and trust, helping merchants reduce friction and cart abandonment while meeting local customer expectations in all markets where Surfboard Payments operates.

Finland remains a leader in the Nordics, with online bank transfers, Pay by Bank, as a preferred method for e-commerce, increasing from 58 percent in 2019 to 77 percent by the second quarter of 2024.

What this means for merchants

For merchants, Pay by Bank is a valuable addition that does not add operational complexity. It follows the same payout structure as other payment methods with Surfboard Payments, meaning you will continue to receive one consolidated payout that includes all payment methods, including Pay by Bank.

Adding this payment method helps you give customers more choice while maintaining operational simplicity and consistency across channels.

Expanding to in-store soon

Pay by Bank is currently available on Online Checkout and will soon expand to in-store terminals. This will allow your customers to use the same payment method whether they are shopping online or in person, creating a unified experience that supports loyalty and satisfaction.

As we add Pay by Bank to our terminals, we continue to remove the barriers between channels to help merchants create a real experience for their customers, no matter where they choose to pay. This is part of our commitment to helping you serve your customers with the same seamless, trusted payment experience in-store and online.

Helping you meet customer expectations

The adoption of Pay by Bank is expected to continue its upward trajectory. Key factors influencing this growth include regulatory support, technological advancements, and increasing consumer demand for secure and instant payment methods.

For businesses, adding Pay by Bank can enhance the customer experience and align with evolving payment preferences and deliver a checkout experience your customers trust while continuing to benefit from Surfboard Payments’ efficient payout structure and full support.

Pay by Bank is ready to activate today. If you want to see how it can fit into your payment setup, get in touch with your Surfboard Payments contact.