Stripe has expanded its Pay by Bank service to France and Germany, marking a new phase in its partnership with TrueLayer.

This expansion comes after the successful launch of the same service in the United Kingdom, where it has been embraced by various merchants.

The payment method enables customers to authorize purchases directly from their bank accounts using biometric authentication, thus eliminating the need for card details. According to Stripe officials, this reduces transaction costs as payments bypass traditional card networks.

Based on TrueLayer’s Open Banking infrastructure, Pay by Bank connects with a wide array of European bank accounts, facilitating seamless integrations for businesses already using Stripe in these regions.

Increasing Acceptance and Market Reach

Usage of Pay by Bank has increased significantly in both France and Germany. For instance, Ryanair has implemented it as an option at checkout. TrueLayer processes about EUR 2 billion annually in France and EUR 1.4 billion in Germany through this service.

TrueLayer officials report that the company handles approximately 60% of such transactions in France and 30% in Germany. This adoption has led to a notable increase in transaction completion rates, with businesses seeing an average rise of about 42% compared to other payment methods. These numbers align with forecasts predicting Pay by Bank transactions within the EU to reach 30 billion by 2028.

French and German businesses adopting this payment method could see benefits such as reduced processing fees, near-instant settlement, and secure authentication via bank-provided mechanisms. Stripe officials indicated that the integration process is simple and accessible to all users operating in these markets.

A TrueLayer representative emphasized that extending their collaboration with Stripe into France and Germany aims to make direct account payments more accessible while highlighting the security and speed benefits of Open Banking-based transactions.