Direct transfer in real-time, without a credit card? In Germany and Austria, Instant Payment has long been the standard. Many online shoppers prefer this payment method and do not want to miss it—also when shopping abroad.

Fortunately, this easy method of payment has now arrived in Switzerland. Especially for online retailers with customers from Germany or Austria, activating "Pay by Bank" is worthwhile. Direct transfer offers a great opportunity to improve the payment process in your online shop, save costs, and achieve more sales.

With Payrexx, integration is so easy that merchants can already use the standards of the future today and benefit long-term from satisfied customers.

What is Instant Payment and how does Pay by Bank work?

Instant payments or "Pay by Bank" are, in short: payments in real-time directly from one bank account to another bank account, without delay.

The payment from your customer's bank account to your merchant account at Payrexx thus only takes a few seconds, instead of hours or days. And the payment with Pay by Bank is possible around the clock, 365 days a year, regardless of bank opening hours.

How exactly does a payment with Pay by Bank work?

Buyers who want to pay with Pay by Bank simply select this payment method at checkout and are then redirected directly to their bank's e-banking, where they can confirm the payment. The money is then transferred to the merchant's account within a few seconds.

The only requirement: The customer's bank account must support Instant Payment (already a standard at most banks in Germany and Austria).

What does Instant Payment bring to Swiss online retailers?

Many Swiss online shops also have customers from Germany and Austria. Both countries are strong e-commerce markets, and the demand for convenient and fast payment methods is growing. Especially Instant Payment is popular with many customers because:

• no card details need to be entered: The payment process is faster and more secure

• no app or registration is required: Anyone with a bank account already has e-banking

• everything is done immediately: No open amounts or forgotten invoices

For Swiss merchants with customers from these countries, this means fewer cart abandons, lower costs, and less effort.

Who benefits from the integration?

The payment method Pay by Bank is particularly interesting for you as a merchant if you have German or Austrian customers, sell internationally or plan to do so, want to save on credit card fees or are generally looking for a faster checkout process.

Example: You run an online shop with sports nutrition or craft supplies and receive many orders from Germany. If you offer Pay by Bank, you offer your customers a familiar payment method, so they feel secure and enjoy shopping with you. This way, you benefit from more sales and even save on fees.

What are the advantages for merchants?

• Low transaction fees (0.5% instead of 1.3 to 3.4% with many cards)

• Real-time payment (immediate credit to the merchant account)

• Less fraud risk (payment is directly confirmed, and customers need not enter card details)

• Simpler checkout (fewer cart abandons)

For Swiss merchants with customers from these countries, this means fewer cart abandons, lower costs, and less effort. Since Instant Payment has only been available in Switzerland since mid-2024, not all Swiss banks support the new standard yet. Therefore, Pay by Bank by Payrexx is currently only available to Swiss merchants with customers from Germany and Austria. This means that the integration is particularly worthwhile at the moment if you also serve these markets.