A major trend in Europe is Pay by Bank. You pay directly from your bank account without a card, thanks to Open Banking.
Authentication happens via the bank app itself, with high security and without the headache of card numbers.
Compared to Cards
- Faster payments with fewer steps.
- Lower costs for merchants (no card network fees).
- Lower fraud rates due to direct bank authentication.
This shift offers merchants cheaper and more reliable payment solutions.
KEYWORDS
#FinTech#PayByBank#OpenBanking
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