Pay by Bank

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This payment method is in beta .

Pay by Bank is a payment method that allows customers to pay for goods or services directly from their bank account. Unlike traditional card payments, this method uses the bank's secure infrastructure, leveraging Open Banking APIs, to facilitate instant or near-instant transactions.

How it works

The process of paying by bank is straightforward and user-friendly:

1. Payment Initiation: the customer selects "Pay by Bank" at the checkout
2. Bank Selection: the customer chooses their bank from a provided list.
3. Customer Authentication: the customer is redirected to their bank’s secure portal or app. Here, they log in and may need to provide additional verification, such as a code sent to their mobile device or biometric data like a fingerprint.
4. Payment Confirmation: the customer reviews the payment details, including the amount and recipient, before confirming the payment.
5. Funds Transfer: the bank processes the payment and transfers the funds from the customer’s account back to Mollie which will then reflect the funds in the merchant's balance.
6. Notification and Settlement: both the customer and the business receive a notification confirming the payment. The bank then settles the transaction by updating the respective accounts.

Key information