PayByBank is an online payment method that allows consumers to pay directly from their bank account using their mobile or online banking app. This payment method is an alternative to traditional credit and debit cards, which require bank card information and security verification.
With PayByBank, the payment process is simple and fast. Consumers select PayByBank when making an online purchase, then choose their bank from the list provided. They are then redirected to their bank’s app to authorize the payment using their secure login information. Once the payment is authorized, funds are transferred directly from the consumer’s bank account to the merchant’s account.
This payment method offers several benefits, including security, speed, and convenience. It also allows consumers to keep control over their spending by using funds available in their bank account rather than accumulating debt on their credit card.