FT. LAUDERDALE, Fla.—Payment processing provider Segpay is now offering its Pay by Bank service, powered by TrueLayer, in the U.K. This additional payment option offers real-time, secure bank-to-bank payments for U.K. customers.
Pay by Bank uses the U.K.’s Faster Payment System, allowing consumers to complete transactions in real time directly from their bank accounts. During checkout, customers are 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 (U.K.) gives our merchants access to a trusted method already used by many U.K. 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 (U.K.), a Segpay representative said. 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 U.K. “Pay by Bank (U.K.) 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 (U.K.) is available to all Segpay merchants (E.U., U.K. and U.S.) and helps them convert U.K. 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 (U.K.). With Segpay’s multicurrency feature, merchants can use non-GBP points and process with Pay by Bank (U.K.).
To learn more about Pay by Bank (U.K.) or Segpay’s full suite of payment options, contact [email protected] or visit Segpay.com.
