Cost Concerns Hinder Merchants’ Pay by Bank Adoption — But Current Payments Could Cost More

Merchants Eye Pay by Bank: Could It Be the Key to Lowering Transaction Costs?

Despite concerns about implementation costs, pay by bank could be more cost effective than keeping up with companies’ current methods, such as credit and debit cards, according to PYMNTS Intelligence’s latest study, “Cost Concerns Hinder Merchants’ Pay by Bank Adoption — But Current Payments Could Cost More,” a collaboration with Trustly. The report details how adopting pay by bank allows businesses to offer discounts and remain profitable.

Inside the October Study
  • 91%: Share of companies highly interested in offering pay by bank
  • 78%: Share of companies saying the potential cost of implementing pay by bank is a key concern for them
  • 95%: Share of companies citing customer attraction and retention as a potential benefit of adopting pay by bank

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