Segpay Expands Global Payment Options With Pay by Bank (UK)

WHY THIS MATTERS:
Open banking payments continue to gain traction in the UK as merchants look for faster, lower-cost alternatives to traditional card payments. Segpay’s integration of Pay by Bank (UK), powered by TrueLayer and the UK’s Faster Payments System, enables real-time bank-to-bank transactions directly from a customer’s bank account. This approach offers immediate settlement, reduces processing delays and eliminates chargeback risk — a key advantage for merchants operating in sectors where card disputes can be costly.

For merchants serving UK customers, the addition of open banking payments reflects a broader shift toward account-to-account (A2A) payment models. As open banking infrastructure matures and consumer familiarity increases, these payment methods are becoming a practical alternative within checkout flows, offering improved cash flow and potentially higher conversion rates.

Segpay, a pioneer in digital payment processing, announced today the addition of Pay by Bank (UK), powered by TrueLayer.  This additional payment option offers real-time, secure bank-to-bank payments for UK customers.

Pay by Bank (UK) uses the UK’s Faster Payment System, allowing consumers to complete transactions in real time directly from their bank accounts. During checkout, customers are seamlessly redirected from the Segpay Pay Page to TrueLayer’s hosted page, where customers sign in to their account and complete the payment.

“Expanding our payment solutions with Pay by Bank (UK) gives our merchants access to a trusted method already used by many UK consumers,” said Cathy Beardsley, CEO of Segpay. “It’s a win-win – consumers benefit from a safe and familiar experience, and merchants gain a real-time payment solution without the risk.”

There are several key benefits of Pay by Bank (UK). Real-time payment settlements improve cash flows and reduce delays. The solution also prevents chargebacks and takes away risk because consumers must log into their bank to initiate the payment. 

“We continue to look towards the future of open banking, finding the best solutions for our merchants,” added Stanley Skoglund, CEO of Segpay UK. “Pay by Bank (UK) delivers a highly secure and low-friction experience for consumers. It’s another way Segpay is there for its merchants All the Way to Paid. ™” 

Pay by Bank (UK) is available to all Segpay merchants (EU, UK, and U.S.) and helps them convert their UK traffic at a lower cost with a better conversion rate. Price points can be set in any of Segpay’s base currencies (EUR, GBP, and USD) and remain compatible with Pay by Bank (UK). With Segpay’s multicurrency feature, merchants can use non-GBP points and process with Pay by Bank (UK).

FF NEWS TAKE:
Account-to-account payments are steadily moving from niche fintech functionality into mainstream merchant infrastructure.

By integrating Pay by Bank into its payment stack, Segpay is aligning with a growing industry trend: reducing card dependency through open banking rails. The long-term impact will depend on consumer adoption, but the direction is clear — real-time bank payments are becoming a competitive checkout option alongside cards and digital wallets.

The post Segpay Expands Global Payment Options With Pay by Bank (UK) appeared first on FF News | Fintech Finance.