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Open Banking (Pay by Bank UK)

Country: United Kingdom (GB)  |  Payment Rail: bank_network

OnlineBanking Market Adoption: 50%

Open Banking UK (Pay by Bank) is the FCA-mandated instant bank transfer scheme across all major UK commercial banks.

🔄 User Payment Flow

  1. Customer selects Pay by Bank / Open Banking at checkout and selects UK bank (Barclays, HSBC, Lloyds, NatWest)
  2. Checkout opens UK bank mobile app via app-to-app deep link
  3. Customer approves Payment Initiation Request via FaceID / TouchID biometric auth
  4. Bank executes Faster Payments transfer instantly and redirects customer back to merchant

⚙️ Characteristics & Settlement

Instant PaymentYES
Supports QRYES
Supports RecurringNO
Supports RefundYES

🛠️ Merchant Integration Steps

  • Merchant API calls Open Banking PISP gateway (TrueLayer / Plaid / Stripe / Adyen)
  • PSP issues payment initiation token and bank deep link URL
  • PSP receives PISP clearing webhook notification and confirms order status