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Pay by Bank (FI)

Pay by Bank in Finland allows consumers to authorize payments directly from their bank accounts through local online banking channels. Finland has a mature digital banking environment, making bank-based payments familiar to consumers and businesses. For merchants, Pay by Bank can support trusted checkout and account-to-account payment acceptance.

Method
Pay by Bank (FI)
LPM Market Share
33%
Payments
Yes
Refunds
Yes - full and partial refunds (automated)
Type
Bank Transfer
Local Card Scheme
Users
n/a
Disbursements
No
No
Chargebacks
No
Authorization currency
EUR
Authorization
speed
Instant
Recurring
N/A
N/A
Notify when available

Reasons for Popularity

Digital-savvy consumers, supportive regulation, and tangible benefits for both merchants and end users.

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