- By adding Pay by Bank to its payment gateway, Revolut is giving businesses another powerful tool to meet evolving consumer demands and improve conversion rates.
- Pay by Bank enables fast, secure payments directly from customer’s bank accounts, with merchants benefitting from enhanced security, and significantly reducing chargebacks.
- The launch capitalises on the massive growth of Pay by Bank in the UK, which now accounts for 27 million monthly transactions.
10 September 2025, London: Revolut, the global fintech with over 60 million customers globally, and hundreds of thousands of business customers, has today announced the launch of Pay by Bank as an option on the Revolut Gateway. This new feature enables businesses to accept fast and secure payments directly from a customer’s bank account, providing a seamless experience for consumers and significant benefits for merchants.
The launch comes as ‘Pay by Bank’, also known as Open Banking, has surged in popularity in the UK, growing from 15 million to 27 million monthly transactions in just one year. With approximately 14 million people now using Pay by Bank each month, this payment method is becoming a mainstream alternative to cards. Further to this, Juniper Research has found that total Open Banking users globally will reach over 645 million in 2029, from 183 million in 2025.
Pay by Bank payments offer a more secure solution for merchants. Because transactions require direct customer authorisation from their chosen banking app, the risk of fraud and chargebacks is drastically reduced. This ensures funds are received in real-time, improving cash flow and customer satisfaction.
For customers, the process is quick and convenient. They can pay directly from their bank account without the need to manually enter card details. Mobile users are simply directed to their app for authorisation, while desktop users can authorise payments by scanning a QR code.
By adding Pay by Bank to its payment gateway, Revolut is giving businesses another powerful tool to meet evolving consumer demands and improve conversion rates. The move reinforces Revolut’s commitment to providing a comprehensive and innovative suite of tools for businesses of all sizes, from startups to large enterprises.
“The payments landscape is evolving, and merchants are looking for solutions that eliminate fraud and increase optionality,” said Alex Codina, GM of Merchant Acquiring at Revolut. “Our new Pay by Bank feature gives them exactly that. We’re empowering businesses to accept the next generation of payments, while offering their customers a secure and convenient payment experience. This can be a game-changer for everyone using our Revolut Gateway.”
The feature will initially be available in the UK, Austria, Belgium, Croatia, Finland, France, Greece, Germany, Ireland, Italy, Lithuania, The Netherlands, Portugal and Spain, with more markets to follow.
Merchants can begin offering this payment option to customers immediately. For more information, visit the Revolut Business website and reach out to account managers.
Revolut Business Terms and Conditions apply.
About Revolut
Revolut is a UK leading fintech, helping people get more from their money. In 2015, Revolut launched in the UK offering money transfer and exchange. Today, more than 60 million customers around the world use dozens of Revolut’s innovative products to make more than half a billion transactions a month.
Across our personal and business accounts, we give customers more control over their finances and connect people seamlessly across the world.
About Revolut Business
Revolut Business is the automated financial platform for businesses, helping startups, scale-ups and enterprises accept and make payments globally, exchange money at great rates and manage their spending.
Our mission is to be the one platform for managing all business finances. Launched in 2017, today hundreds of thousands of businesses rely on Revolut Business to run their businesses and as a platform for growth.
Revolut Business T&Cs apply. Banking services provided by Revolut Bank UAB or its Branch in EU, license issued by ECB through the Bank of Lithuania. To learn more, visit https://www.revolut.com/business/
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