Pay by Bank for online stores

Pay by bank, also known as instant payment, allows buyers to pay for your goods or services directly from their bank account. This allows customers to shop in your online store without a credit or debit card.

Minimum fee for Pay by Bank: CHF 0.50

For the DACH region

The Pay by Bank payment method is ideal for Swiss merchants whose customers come from either Germany or Austria. Here, bank transfer is particularly popular with buyers.

Low fees

In contrast to other payment methods, Pay by Bank is a cost-effective alternative for EU-wide payments: As the amount is transferred from the bank account, there are no additional credit card fees.

Secure bank transfer

Thanks to the modern, highest possible security standards of Payrexx, you and your buyers benefit from comprehensive protection against fraud attempts or misuse.

Functions of Pay by Bank for online stores

Availability

Merchant:in with registered office in Switzerland
Buyer:in with bank account in Germany or Austria

Currencies

Payout currency

Payments

EUR

all currencies

Transaction fees

  • ... - FREE plan

  • ... - STANDARD Plan

  • ... - PREMIUM plan

Minimum fee for Pay by Bank: CHF 0.50

Limit per transaction

Disbursement intervals

  • Payout to your bank account

  • Weekly payment intervals

  • Monthly payment intervals

Documentation

Advantages of Pay by Bank

For you as a merchant

Pay by Bank offers you as a merchant various advantages. On the one hand, transactions are processed much faster than with a credit or debit card, for example. The money is debited and transferred directly from the buyer's bank account as an instant payment.

This directness also increases security: as the payment is debited directly from the bank account, it is ensured that the buyer actually has the necessary funds. A payment default is therefore ruled out. Strong authentication procedures are also involved in the process, which further increases security.

The Pay by Bank payment method also proves to be a cost-effective alternative to payment by credit or debit card, as there are no high fees for Europe-wide transactions. This means you not only offer your customers the flexibility of this secure payment method, but also increase your turnover.

For your customers

The Pay by Bank payment method is particularly widespread and popular in Germany and Austria. One reason for this is that users do not need to purchase a credit or debit card, but can pay directly via their bank account.

This not only reduces direct costs, but also increases security. As no card is required, shoppers do not have to constantly type in and pass on their sensitive credit card details.

On the other hand, customers appreciate the high degree of control that Pay by Bank brings. The payment is processed via their trusted bank and they receive a complete overview of all transactions in their e-banking. This allows them to see not only how much money has actually been debited, but also that it has arrived directly at the respective online store.

How to activate Pay by Bank

Existing customer

Log in to your Payrexx account and make sure that you have activated the payment provider Payrexx Pay. Under "Configure" you can now offer Pay by Bank alongside many other payment methods such as TWINT, PostFinance, Reka, Google Pay, Samsung Pay.

Not a customer yet?

Create your Payrexx account and test Payrexx for 30 days free of charge and without obligation. Pay by Bank is already activated for Swiss merchants and you only need to have your account verified before you can receive live payments with Pay by Bank.

Frequently asked questions about bank transfers

  • If you pay via Pay by Bank, the amount is deducted directly from your bank account. This means they do not have to purchase a credit or debit card, but can pay directly and without any detours. 

    Please note that various requirements must currently still be met in order to use Pay by Bank:

    • The registered office of the dealer is located in Switzerland.

    • The retailer has a commercial register entry or a company identification number (UID).

    • The merchant has a verified account with Payrexx.

    • The payment provider Payrexx Pay is activated.

    • The currency EUR is activated.

  • Pay by Bank is based on the concept of open banking, in which third-party providers have secure access to bank data and can initiate payments on behalf of customers. The third-party provider provides the technical solution for Pay by Bank, while Payrexx ensures the payment flow.

  • Paying with Pay by Bank is very fast and secure. Customers must complete the following steps:

    1. The customer selects the payment method Pay by Bank during the payment process.

    2. Next, the customer selects the country of their bank. For Payrexx, this is currently Germany or Austria.

    3. The customer will be redirected to a page where he or she must accept the terms and conditions and privacy policy of the third-party provider.

    4. In the following window, the customer selects his or her bank. In the Payrexx documentation you will find an overview of all available banks.

    5. The customer will now be redirected to the login page of the selected bank, where they can log in with their login details and complete the payment.

  • Compared to other payment methods, paying with Pay by Bank is considered particularly secure. On the one hand, shoppers benefit from the strong authentication procedures of their banks: they use multiple authentication and early credit checks to ensure that their e-banking users are selected and optimally protected.

    On the other hand, as a payment provider, Payrexx is very concerned about the security of your customers and your online store. The Payrexx solution fulfills the highest security standards: Both your and your customers' data are processed in accordance with the European General Data Protection Regulation (GDPR), the transmission is secured using SSL encryption (Secure Socket Layer) and the proven 3-D Secure procedure further minimizes the risk of fraud.

  • Paying with Pay by Bank is considered particularly fast compared to other payment methods. This is why this payment method is also known as instant payment. Since the payment is deducted directly from the customer's bank account and no credit card companies are involved, the amount ends up directly with Payrexx. We in turn transfer your money to you according to the payout intervalwhich has been agreed with you. By default, this means that your money arrives at the end of each month. If you would like a weekly or daily payout instead, you can contact the support team directly. the support team directly.

  • As an online merchant, you can activate the Pay by Bank payment method quickly and easily with the help of Payrexx. To do this, you must first create an account and have it verified. You can then apply for the payment provider Payrexx Pay, which includes many other payment methods in addition to payment via bank transfer - for example Visa, Mastercard, TWINT, PostFinance Pay, Google Pay or purchase on account.

    As a shopper from Germany or Austria, all you need to pay via Pay by Bank is your bank's login details. As soon as you select Pay by Bank as your payment method, you will be forwarded directly to the relevant e-banking page. You can find out which banks are all available in the Payrexx documentation.

  • As an online merchant, you benefit from excellent conditions with the Pay by Bank payment method: Similar to purchase on account, the fee per transaction is either 0.60 % or 0.50 %, depending on your Payrexx package, with a minimum fee of CHF 0.50. Added to this is the monthly fee for your Payrexx account.

    You can find a detailed overview of all prices on the Payrexx price page.

  • No, unfortunately it is not possible to refund or cancel the amount when paying with Pay by Bank and Payrexx. Only one-off payments can be made with this payment method.

  • With the help of Payrexx, it is quick and easy to use Pay by Bank for your online store - without any lengthy registration processes. In addition, our free open source Payrexx plugins are available to make integration easier.

    This enables you to integrate Pay by Bank smoothly into your online store project.

    Further information on the implementation of Pay by Bank in the most popular e-commerce systems:

    View overview

    Also with our customized system: Payrexx Merchant:inside API

Are you ready to get started? Try Payrexx free of charge and without obligation.