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Pay by Bank (FR)

Pay by Bank in France is an emerging payment method that leverages direct account-to-account transfers, providing a secure, instant, and cost-effective alternative to traditional card payments. While 28% of consumers are already familiar with the service, this signals early-stage adoption with high growth potential as the country advances its open banking infrastructure. Recent regulations under PSD2 have laid the groundwork for wider adoption, ensuring enhanced security and interoperability.

Method
Pay by Bank (FR)
LPM Market Share
n/a
Payments
Yes
Refunds
Yes - full refunds only
Type
Bank Transfer
Local Card Scheme
Users
19M
Disbursements
No
No
Chargebacks
$25.00
Authorization currency
EUR
Authorization
speed
Instant
Recurring
No
No

Reasons for Popularity

Market Readiness:The growth of mobile-first consumers and e-commerce has created a demand for faster, more seamless payment methods, which Pay by Bank satisfies

Scalability: High smartphone penetration and mobile banking adoption pave the way for scalability

Cost-Effective Alternative for Merchants and Consumers: Transactions eliminate intermediary fees, benefiting businesses through lower costs and improved cash flow with instant settlements. Consumers enjoy direct payments without needing card details, boosting trust and ease of use