US-based payment processor Segpay has expanded its Pay by Bank service to eight European markets. The payment option, which Segpay introduced in the UK in March 2026 and later added in Germany, is now also offered in Belgium, Finland, France, Ireland, the Netherlands, and Spain. Pay by Bank allows customers to pay directly from their bank accounts, without using a credit or debit card.
Bank payments over real-time rails
The service is powered by open banking payments provider TrueLayer and uses real-time payment networks, including SEPA Instant in the EU and Faster Payments in the UK. Customers select their bank and approve the payment in their banking app, typically using Face ID or a fingerprint, without entering card details. They receive confirmation of their purchase within seconds.
Pay by Bank is available for one-time purchases in GBP and EUR, including Segpay's One-Time, Digital Purchase, and Dynamic Pricing billing models. Recurring payments are not currently supported. Because payments are authorised directly through the customer's bank, merchants do not face traditional card network chargebacks, although the service still supports refunds.
An alternative to card payments
Cathy Beardsley, President and CEO of Segpay, said not every customer wants to pay by credit card, and that the company wants to give its merchants more payment options. She added that Pay by Bank provides another way to accept payments without the chargeback concerns associated with card transactions. Segpay merchants can request the service through their account managers. Founded in 2005, Segpay processes payments in EUR, GBP, and USD for merchants in the EU, the UK, and the US.
The expansion extends Segpay's account-to-account payment coverage from two markets to eight, covering several of the largest economies in the euro area. For merchants selling to customers across Europe, the service offers a single integration for bank-based payments, alongside Segpay's existing card processing. TrueLayer has also expanded Pay by Bank with Stripe to France and Germany, two of its largest markets outside the UK.
