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

Fortunately, this simple way of paying has now also arrived in Switzerland. Especially for online merchants with customers from Germany or Austria, activating “Pay by Bank” is worthwhile. Direct bank transfer offers a great way to improve the payment process in your online shop, save costs and increase sales.

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

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 customers’ bank account to your merchant account at Payrexx therefore only takes a few seconds instead of hours or days. And paying 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 in the 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 account within a few seconds.

The only requirement: The customers’ bank account must support Instant Payment (already standard at most banks in Germany and Austria).

What does Instant Payment bring to Swiss online merchants?

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. Instant Payment in particular 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 needed: If you have a bank account, you already have e-banking anyway

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

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

For whom is the integration worthwhile?

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

Example: You run an online shop for sports nutrition or craft supplies and receive many orders from Germany. If you offer Pay by Bank, you offer your customers a payment method they are familiar with, so that they feel secure and are happy to shop with you. This means you benefit from higher sales and even save fees.

What are the benefits for merchants?

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

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

• Lower fraud risk (payment is confirmed directly and the customer does not need to enter card details)

• Simple checkout (fewer abandoned purchases)

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