Top Pay-by-Bank Apps in 2025

The way people pay for goods and services is changing rapidly, and both users and merchants are searching for methods that feel effortless, secure, and reliable. Traditional card-based systems often bring hidden fees, delays, or failed transactions that leave frustration on both sides. To solve these issues, pay by bank apps are stepping in as a smarter alternative, enabling direct payments straight from a user’s bank account with speed and confidence.

These apps blend real-time transfers, bank-grade authentication, and user-friendly design to make payments seamless. By removing unnecessary intermediaries, they not only reduce costs for merchants but also give customers a smoother checkout experience. This combination of convenience and efficiency is making pay-by-bank solutions a growing force in digital payments worldwide.

In this blog, we’ll take a closer look at the top pay-by-bank apps in 2025, exploring what sets them apart, how they benefit both users and businesses, and why they represent the future of secure digital transactions. As we have helped various businesses capitalize on fintech growth trends by developing payment solutions that secured significant market share during industry transitions, IdeaUsher has the expertise to build pay-by-bank applications that position you in the projected market expansion.

What is a Pay-by-Bank App?

A Pay-by-Bank App is a digital payment solution that allows users to make secure transactions directly from their bank accounts without using cards, cash, or third-party wallets. These apps connect to users’ banks through open banking APIs or direct integrations, enabling real-time account-to-account payments while ensuring strong security and authentication.

Pay-by-Bank apps are transforming the payment ecosystem by offering a simpler, faster, and more secure alternative to traditional card-based payments. They reduce friction in the checkout process and often eliminate processing fees associated with cards.

How Does a Pay-by-Bank App Work?

Pay-by-Bank apps are transforming payments by making transactions faster, safer, and simpler. Let’s understand the process to understand why they are the future of digital payments.

1. Payment Initiation

The process begins when a user chooses the Pay-by-Bank option at checkout. Whether it’s on an online store, a mobile app, or at a point-of-sale terminal, this option removes the need for cards or wallets, and connects directly to the bank account.

2. Choosing the Bank & Authenticating

Once Pay-by-Bank is selected, the user picks their bank and is redirected to its secure login interface. Authentication through biometrics, OTP, or PIN ensures the payment is securely authorized by the account holder.

3. Payment Authorization

After logging in, the user sees a summary of the payment: the merchant’s name, the payment amount, and a transaction reference. Once they confirm, they give explicit authorization for the bank to initiate the payment.

4. Payment Processing

Once authorized, the Pay-by-Bank system communicates with the user’s bank, which transfers the payment directly to the merchant’s account. This real-time process bypasses card networks, cutting costs, reducing delays, and improving efficiency.

5. Payment Confirmation

The moment the bank processes the payment, the user receives instant confirmation. Likewise, the merchant is notified in real time, allowing them to proceed with order fulfillment without delay.

6. Transaction Records

Finally, both the user and the merchant can access the transaction details through their apps or banking dashboards. This transparency helps in account tracking, refunds, and dispute resolution.

Key Market Takeaways of the Pay-by-Bank Apps

The global mobile payment market was valued at USD 88.50 billion in 2024 and is projected to reach USD 587.52 billion by 2030, growing at a CAGR of 38.0%. This growth is driving demand for pay‑by‑bank apps, which enable secure, low‑cost, bank‑to‑bank transactions without intermediaries.

Leading Pay-by-Bank Platforms and Their Funding

Here’s a look at some of the top pay-by-bank platforms and the funding that is driving their growth and market impact.

• Plaid: Raised over $1.3 billion historically, with a notable $575 million round in April 2025 at a $6.1 billion valuation.
• TrueLayer: European open‑banking scaleup with total funding of ~$300 – $330 million through multiple rounds up to 2024; continues to scale total payment volume.
• Tink: Acquired by Visa for about €1.8 billion (~$2.1 billion); deal completed in phases after its 2021 announcement.
• Yapily: UK-based open‑banking API specialist with ~$70–71 million raised over multiple rounds, including a notable Series B.
• GoCardless: Direct debit and A2A payments platform with over $500 million raised across multiple rounds, including a $312 million round; actively acquiring complementary open‑banking capabilities.

These funding trends highlight a robust investment environment and underscore the growing adoption of pay‑by‑bank solutions worldwide. As banks, fintechs, and consumers increasingly embrace direct, secure, and cost-effective payments, pay‑by‑bank apps are set to become a central pillar of the digital payments ecosystem.

Top Pay-by-Bank Apps in 2025

In 2025, several Pay-by-Bank apps are leading the charge in transforming digital payments with speed, security, and convenience. These platforms stand out for their innovation and user trust, making them top choices for seamless transactions worldwide.

1. TrueLayer Pay

TrueLayer is a leading open banking platform that enables businesses to accept payments directly from bank accounts. Their Pay by Bank solution offers a seamless, secure, and cost-effective alternative to traditional card payments.

Unique Features:

• End-to-End Payment Experience: Offers payments, refunds, payouts, withdrawals, and merchant accounts from a single API.
• Verified Real-Time Payments: Supports Variable Recurring Payments (VRPs) in the UK, enhancing payment flexibility.
• Regulatory Engagement: Pioneered the first live VRP transaction with NatWest, demonstrating commitment to regulatory compliance.
• Global Reach: Provides services across multiple European markets, including the UK, Germany, France, Belgium, and Spain.

Why This Platform is Popular: TrueLayer’s comprehensive API suite and strong regulatory partnerships make it a trusted choice for businesses looking to integrate open banking payments. Their focus on security and user experience has led to widespread adoption among merchants and consumers alike.

Monetization Model: TrueLayer operates on a transaction-based fee model, charging businesses a fee per successful payment transaction processed through their platform.

2. Vyne

Vyne is a UK-based account-to-account payment platform that allows consumers to pay directly from their bank accounts without the need for card details. It aims to simplify the checkout process and reduce transaction costs for merchants.

Unique Features:

• Card-Free Payments: Eliminates the need for customers to enter card details, streamlining the payment process.
• Real-Time Transactions: Ensures immediate payment confirmation, enhancing cash flow for businesses.
• Reduced Transaction Fees: Bypassing card networks, Vyne offers lower transaction costs.
• Seamless Integration: Easily integrates with existing e-commerce platforms, minimizing setup time.

Why This Platform is Popular: Vyne’s emphasis on simplicity and cost-effectiveness appeals to both merchants and consumers. Its ability to bypass traditional card networks results in lower fees and faster transactions, making it an attractive option for online businesses.

Monetization Model: Vyne charges merchants a fee per transaction processed through their platform, typically lower than traditional card processing fees.

3. GoCardless Instant Bank Pay

GoCardless offers Instant Bank Pay, a solution that allows businesses to collect one-off payments directly from customers’ bank accounts in real-time. It’s particularly beneficial for high-value invoices and reducing late payments.

Unique Features:

• Instant Payment Confirmation: Provides immediate payment verification, reducing administrative overhead.
• Optimized Conversion Rates: Designed to minimize payment friction and cart abandonment.
• Reduced Fees: Offers lower transaction costs compared to traditional card payments.
• Flexible Payment Requests: Supports various payment scenarios, including one-off purchases and account top-ups.

Why This Platform is Popular: GoCardless’s focus on recurring billing and instant payments makes it a preferred choice for businesses seeking efficient payment solutions. Its integration capabilities and cost savings further enhance its appeal.

Monetization Model: GoCardless earns revenue through transaction fees, charging businesses a percentage of each payment processed.

4. Banked

Banked is a global real-time payments network that enables consumers and businesses to make secure account-to-account payments. It aims to improve payment efficiency and reduce costs across various sectors.

Unique Features:

• Real-Time Payments: Facilitates immediate fund transfers between accounts.
• Secure Transactions: Utilizes modern banking rails to ensure transaction security.
• Wide Coverage: Supports payments across multiple countries and currencies.
• User-Friendly Interface: Offers an intuitive platform for both consumers and businesses.

Why This Platform is Popular: Banked’s emphasis on speed, security, and global reach makes it a versatile choice for various payment needs. Its ability to streamline payment processes appeals to both merchants and consumers.

Monetization Model: Banked generates revenue through transaction fees, charging businesses a percentage of each payment processed through its platform.

5. Trustly

Trustly is a global payment provider that enables consumers to make direct bank payments online. It offers a seamless and secure alternative to traditional card payments, enhancing the checkout experience.

Unique Features:

• Direct Bank Payments: Allows consumers to pay directly from their bank accounts without the need for cards.
• Global Reach: Supports payments across multiple countries and currencies.
• Secure Transactions: Utilizes advanced security protocols to protect user data.
• Recurring Payments: Facilitates subscription-based billing and recurring transactions.

Why This Platform is Popular: Trustly’s focus on security and user experience has made it a trusted choice for businesses and consumers. Its ability to process payments quickly and securely enhances the overall payment experience.

Monetization Model: Trustly earns revenue through transaction fees, charging businesses a percentage of each payment processed.

6. MobilePay

MobilePay is a leading mobile payment app that enables users to make instant account-to-account payments. It integrates seamlessly with bank accounts, allowing for easy transfers between individuals and businesses without the need for cash or cards.

Unique Features:

• Instant Payments: Transfers happen in real time, improving convenience.
• Wide Merchant Acceptance: Used by a large number of retailers and service providers.
• User-Friendly Interface: Clean design for easy navigation and payment.
• Split Payments: Allows users to split bills with friends or family instantly.

Why This Platform is Popular: MobilePay’s simplicity, speed, and widespread adoption make it one of the most trusted payment apps. Its convenience for both peer-to-peer and merchant transactions drives its popularity.

Monetization Model: MobilePay generates revenue from transaction fees charged to merchants and service providers who use its platform.

7. Worldpay Pay by Bank

Worldpay’s Pay by Bank solution allows consumers to make payments directly from their bank accounts, bypassing traditional card networks. It offers a secure and efficient alternative for online transactions.

Unique Features:

• Direct Bank Payments: Enables payments directly from bank accounts without the need for cards.
• Real-Time Processing: Facilitates immediate payment authorization and settlement.
• Secure Transactions: Employs advanced security measures to protect user data.
• Comprehensive Reporting: Provides detailed transaction reports for businesses.

Why This Platform is Popular: Worldpay’s extensive experience in payment processing and its global reach make it a trusted choice for businesses seeking reliable payment solutions.

Monetization Model: Worldpay generates revenue through transaction fees, charging businesses a percentage of each payment processed.

8. DNA Payments

DNA Payments offers a Pay by Bank solution powered by Mastercard, enabling customers to make secure payments directly from their UK bank accounts. This service simplifies the checkout process by eliminating the need for card details.

Unique Features:

• Real-Time Payments: Instantaneous payment processing enhances customer experience.
• No Card Details Required: Eliminates the need for entering card information.
• Secure Transactions: Utilizes Mastercard’s secure payment infrastructure.
• Wide Bank Support: Compatible with a broad range of UK banks.

Why This Platform is Popular: The integration with Mastercard’s secure network and the elimination of card details make it a trusted choice for both merchants and consumers in the UK.

Monetization Model: DNA Payments generates revenue through transaction fees charged to merchants for each Pay by Bank transaction.

9. Revolut

Revolut is a digital banking platform offering a Pay-by-Bank feature as part of its suite of financial services. It enables users to make direct bank transfers instantly while providing additional benefits such as multi-currency support and budgeting tools.

Unique Features:

• Instant Bank Payments: Supports real-time account-to-account transfers.
• Multi-Currency Support: Allows users to pay and receive in multiple currencies.
• Security & Compliance: Strong authentication measures ensure safety.
• Integrated Financial Tools: Budget tracking, analytics, and currency exchange features.

Why This Platform is Popular: Revolut’s combination of banking features, security, and Pay-by-Bank convenience attracts both individual users and businesses, especially those dealing with cross-border payments.

Monetization Model: Revolut earns through subscription plans, currency exchange fees, and transaction charges for premium features.

10. Zelle

Zelle is a popular US-based digital payment network that enables users to send and receive money directly between bank accounts. It’s integrated into the mobile banking apps of participating banks, offering fast, secure transfers without extra fees for personal users.

Unique Features:

• Instant Transfers: Funds are transferred within minutes.
• Direct Bank Integration: Works within existing bank apps without extra setup.
• No Additional Fees: Most banks offer Zelle transfers for free.
• Wide Availability: Supported by hundreds of US banks and credit unions.

Why This Platform is Popular: Zelle’s direct integration with major banks, speed, and fee-free model make it a widely adopted choice for peer-to-peer payments in the US.

Monetization Model: Zelle earns revenue from participating banks via service agreements rather than charging end users.

Development Process of Pay-by-Bank App

Building a Pay-by-Bank app requires careful planning, technical expertise, and banking regulation compliance. It involves integrating open banking APIs, ensuring security, and providing a seamless experience for merchants and consumers.

1. Requirement Analysis & Planning

The first step is identifying the target audience, required features, regions, and banking integrations. The app must meet compliance standards like PSD2 in Europe or Open Banking in the UK. Planning includes deciding on integration with banks, payment processors, or rails.

2. Designing the User Experience (UX)

Pay-by-Bank apps focus on simplicity and speed, with UX design ensuring a frictionless checkout flow from start to confirmation. Wireframes highlight trust elements like clear consent, details, and privacy.

3. Frontend Development

The frontend offers a smooth, responsive interface across devices, using popular tools like Flutter and React Native for cross-platform development, emphasizing intuitive navigation and seamless bank authentication.

4. Backend Development & API Integration

The backend handles payment processing, bank API integration, and security to meet banking standards. Developers typically use Node.js or Django to connect with open banking APIs, enabling secure data exchange, transaction logging, and real-time payments.

5. Security Implementation

Security is critical. The app must integrate Strong Customer Authentication (SCA), encryption, tokenization, and secure storage protocols. This ensures that users’ bank credentials and transaction details remain safe. Penetration testing and vulnerability assessments are essential before launch.

6. Testing & Compliance Checks

Before launch, the app undergoes extensive functional, security, and compliance testing. Regulatory bodies may require additional certifications or audits depending on the region. Testing ensures seamless bank integrations, smooth transaction flows, and compliance with data protection laws.

7. Deployment & Continuous Improvement

Once the app passes tests, it’s deployed to app stores and integrated with banking partners. Post-launch, ongoing monitoring, performance boosts, and updates are vital to keep it reliable and satisfying users. Feedback loops help the app evolve with customer needs and industry trends.

How IdeaUsher Helps Build Pay-by-Bank Apps?

While understanding the development process is crucial, successfully building a Pay-by-Bank app requires more than just technical knowledge. It demands expertise in banking integrations, regulatory compliance, and scalable architecture areas where IdeaUsher excels.

1. Expertise in Fintech and Banking APIs

Our team has extensive experience working with PSD2-compliant solutions, Open Banking APIs, and secure payment gateways. We ensure that every integration is seamless, reliable, and aligned with industry standards, so your app performs flawlessly from day one.

2. Security and Compliance at the Core

Security is non-negotiable for payment applications. Our developers implements advanced security measures, including data encryption, two-factor authentication, and fraud monitoring, while ensuring full compliance with GDPR, PCI DSS, and other relevant regulations.

3. End-to-End Development Solutions

From ideation and UI/UX design to backend development, API integration, testing, and deployment, we manage the entire development lifecycle. This approach guarantees that your Pay-by-Bank app is not only functional but also user-friendly, scalable, and ready for market adoption.

4. Scalable and Tailored for Growth

Every business has unique requirements. IdeaUsher builds customized solutions that can grow with your business, accommodate increasing user bases, and adapt to future payment innovations.

Conclusion

A pay by bank app is redefining how users and merchants interact with digital payments by offering speed, security, and convenience. The top apps in 2025 demonstrate how innovative features, seamless authentication, and real-time transaction tracking can enhance the payment experience. By adopting these solutions, businesses and consumers gain greater control over financial interactions while improving operational efficiency. Understanding the capabilities and strengths of leading pay by bank apps helps organizations and users make informed choices, ensuring a smoother, more reliable, and future-ready digital payment ecosystem.

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