Stripe expands Pay by Bank to France and Germany

Stripe has announced plans to launch its Pay by Bank service in France and Germany, marking a strategic expansion of its partnership with Open Banking provider TrueLayer.

Stripe expands Pay by Bank to France and Germany

The move follows the success of its rollout in the UK, where it has enhanced conversion rates while lowering transaction fees for merchants.

Pay by Bank enables consumers to authorise payments directly from their bank accounts, typically using biometric authentication such as Face ID or fingerprint verification.

This bypasses the need for card entry, creating a streamlined, secure, and user-friendly checkout experience.

The integration leverages its established Open Banking infrastructure, which connects to bank accounts across Europe.

In both France and Germany, major businesses including Ryanair have already introduced the service, familiarising consumers with this payment option.

As EU Pay by Bank transactions are projected to reach 30 billion annually by 2028, France and Germany – the bloc’s largest economies – are expected to play a central role in driving this growth.

For merchants, the benefits are clear.

The service avoids costly card processing fees, improves cash flow through real-time settlement, and enhances security by using bank-approved biometric authentication.

TrueLayer, currently processing €2 billion annually in Pay by Bank transactions in France and €1.4 billion in Germany, accounting for 60% and 30% of national volumes respectively, reports that French and German businesses using it see an average 42% uplift in conversion.

Sebastian Vetter, TrueLayer’s Country Manager Germany, said: “By bringing Stripe’s Pay by Bank integration to Germany and France, we’re empowering businesses to accept faster, safer, and more affordable payments.”

Stripe will soon make Pay by Bank available to all French and German users via its platform, enabling businesses to integrate and offer the payment option immediately.