Banked is a payments platform that facilities account to account bank payments in real time. It's a fast and secure way to pay. In addition, Banked provides value added services for a business to enable customer engagement and loyalty with incentives and rewards integrated into the payment experience.
Pay by Bank is the checkout experience for a customer. This could be via a checkout button or a payment link using a QR code or an SMS message. At checkout, when you choose Pay by Bank : as your payment method, you will be asked to select your bank which then creates a secure link in order to authorise your payment. Once the transaction is authorised, you are redirected back to the checkout page. No card details are needed, there’s no need to create an account and no personal financial information is shared.
Select. Connect. Approve.
At checkout, look for the Pay by Bank : button and select as your payment method.
Follow the simple steps to choose and connect securely to your bank.
Approve your purchase, securely via your banking app or with online banking.
After payment approval you will be redirected back to our checkout page. No card details are needed, there’s no need to create an account and your personal financial information stays between you and your bank.
When a customer uses Pay by Bank, a secure connection is created between the customer and the bank to authorise a payment. No payment credentials are shared and you authenticate using your banking login details such as FaceID or TouchID, making it much more difficult for a fraudster to make a transaction using your information.
No, customers do not need to create a new account with Banked to use Pay by Bank. Simply select Pay by Bank at checkout and follow simple steps to securely connect with your bank to authorise the payment.
Anywhere where you see the Pay by Bank logo or the QR code. We are working with partners and retailers to bring Pay by Bank to more checkouts over the next few months.
There are three simple steps to Pay by Bank. When you choose Pay by Bank as your payment method you will be asked to select your bank, you'll then be redirected via secure link to your banking app or online banking to authorise the payment. Once the transaction is authorised, you are redirected back to the checkout page.
Where a QR code is included in an invoice or bill as a payment method, simply scan the QR code using your camera on your mobile phone and this will take you to a secure link to select your bank and authorise your payment.
Some banks in the EU are charging consumers for using SEPA instant. Whilst this is the consumer Banks prerogative to do so, we at Banked : believe it to be a small number of banks across the EU as we identify these we are working with them to understand the reason why and how we can encourage them to stop on consumer and merchant behalf.
Yes, Banked is regulated by the FCA. Company number 11047186, firm reference number 816944.
No, as Banked is regulated by the FCA as a PISP, this means your company is covered by our license.
Direct bank to bank transactions are significantly cheaper to process than cards. In addition there are no set up fees, no chargebacks and significantly lower fraud costs than card processing. Talk to sales to find out more and to obtain a price quote.
Banked partners with a number of payment gateways and payments platforms to give merchants choice in how to integrate Pay by Bank and add it to existing payment options. Partners include Gr4vy, Primer, Apexx and Thought Machine.
Yes. Security is paramount to Banked and, in compliance with PSD2, multi-factor authentication is part of every transaction processed.
If you want to simply plug in and go, our hosted checkout is for you. You can be up and running within a couple of hours. For more customisation options and control, try our embedded checkout.
When you sign up for Banked, we will perform the necessary compliance checks on your business. Until this is done, you will only be able to create test payments. As soon as the compliance checks have been passed, your account will be updated, and you will be able to retrieve your live API keys and create live payments.
Banked operates with real time payments so payments are settled instantly.
Banked Ltd is authorised and regulated by the UK Financial Conduct Authority
151 Wardour St, Unit 5.01, London, W1F 8WE, UK
Company number 11047186 : Firm Reference Number 816944 : +44 (0) 20 8090 2747
© Banked : 2023