{"id":5963,"date":"2026-10-14T14:00:00","date_gmt":"2026-10-14T12:00:00","guid":{"rendered":"https:\/\/www.betaalvereniging.nl\/en\/?p=5963"},"modified":"2026-10-14T14:02:38","modified_gmt":"2026-10-14T12:02:38","slug":"pay-by-bank","status":"publish","type":"post","link":"https:\/\/www.betaalvereniging.nl\/en\/news\/pay-by-bank\/","title":{"rendered":"Pay-by-Bank, what is it?"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\"><strong>Dutch people mainly use iDEAL|Wero for online payments, for example in online shops. After 20 years, virtually every Dutch person knows what it is and how to use it. Recently, a new online payment method has been in the news: Pay-by-Bank. This allows you to pay online via your own bank\u2019s mobile app or secure website, just like with iDEAL|Wero. What exactly is Pay-by-Bank, who owns it, and how does it differ from iDEAL|Wero?<\/strong><\/p>\n\n\n<figure class=\"wp-block-post-featured-image\"><img loading=\"lazy\" decoding=\"async\" width=\"2560\" height=\"1230\" src=\"https:\/\/www.betaalvereniging.nl\/en\/wp-content\/uploads\/sites\/4\/2026\/10\/Pay-by-Bank-beeld.png\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" style=\"object-fit:cover;\" srcset=\"https:\/\/www.betaalvereniging.nl\/en\/wp-content\/uploads\/sites\/4\/2026\/10\/Pay-by-Bank-beeld.png 2560w, https:\/\/www.betaalvereniging.nl\/en\/wp-content\/uploads\/sites\/4\/2026\/10\/Pay-by-Bank-beeld-300x144.png 300w, https:\/\/www.betaalvereniging.nl\/en\/wp-content\/uploads\/sites\/4\/2026\/10\/Pay-by-Bank-beeld-1024x492.png 1024w, https:\/\/www.betaalvereniging.nl\/en\/wp-content\/uploads\/sites\/4\/2026\/10\/Pay-by-Bank-beeld-768x369.png 768w, https:\/\/www.betaalvereniging.nl\/en\/wp-content\/uploads\/sites\/4\/2026\/10\/Pay-by-Bank-beeld-1536x738.png 1536w, https:\/\/www.betaalvereniging.nl\/en\/wp-content\/uploads\/sites\/4\/2026\/10\/Pay-by-Bank-beeld-2048x984.png 2048w\" sizes=\"auto, (max-width: 2560px) 100vw, 2560px\" \/><\/figure>\n\n\n<p class=\"wp-block-paragraph\"><a href=\"https:\/\/www.vbin.nl\/pay-by-bank\/\" target=\"_blank\" rel=\"noreferrer noopener\">Pay-by-Bank<span class=\"sr-only\">(opens in new window)<\/span> <span class=\"icon inline-block ml-1 w-[0.875em]\" aria-hidden=\"true\"><svg aria-hidden=\"true\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"32\" height=\"32\" fill=\"#000000\" viewBox=\"0 0 256 256\"><path d=\"M228,104a12,12,0,0,1-24,0V69l-59.51,59.51a12,12,0,0,1-17-17L187,52H152a12,12,0,0,1,0-24h64a12,12,0,0,1,12,12Zm-44,24a12,12,0,0,0-12,12v64H52V84h64a12,12,0,0,0,0-24H48A20,20,0,0,0,28,80V208a20,20,0,0,0,20,20H176a20,20,0,0,0,20-20V140A12,12,0,0,0,184,128Z\"><\/path><\/svg><\/span><\/a> is a simple name for something that exists since 2019: a direct electronic transfer which, thanks to the European <em><a href=\"https:\/\/www.betaalvereniging.nl\/en\/knowledge-base\/european-legislation\/psd2\/\"><strong>Payment Services Directive 2<\/strong><\/a><\/em> (PSD2), can be initiated digitally by, for example, an online shop with the buyer\u2019s bank. It is <a href=\"https:\/\/www.betaalvereniging.nl\/en\/knowledge-base\/european-legislation\/open-banking\/\">a form of <em>Open Banking<\/em><\/a> whereby the amount and beneficiary are pre-populated for the buyer at their bank, and the buyer simply needs to give a secure digital authorisation, either via the mobile app or secure website of his or her own bank.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Anyone is free to use the name \u2018Pay-by-Bank\u2019 for this type of payment; it is not a protected trademark. These payments are now offered to online retailers by various payment services providers (PSPs) under the name \u2018Pay-by-Bank\u2019.<\/p>\n\n\n\n<h3 id=\"h-no-one-and-everyone-owns-pay-by-bank\" class=\"wp-block-heading\">No one and everyone owns Pay-by-Bank<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">How does this differ from iDEAL|Wero and, in future, from Wero? The iDEAL|Wero brand name will disappear and will be entirely replaced by Wero during 2027. <a href=\"https:\/\/www.betaalvereniging.nl\/en\/knowledge-base\/online-payments\/ideal-wero\/\">iDEAL and Wero<\/a> have a single brand and product owner: EPI Company. It oversees the entire process and ensures that a standard iDEAL|Wero or Wero payment always appears and works the same way, across all PSPs and online retailers. A PSP wishing to offer iDEAL|Wero or Wero as a payment method to online shops, must enter into an agreement with EPI Company and must comply with its rules and guidelines.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Pay-by-Bank is a technical approach that every PSP can design and implement themselves. The PSP does not need to enter into an agreement with a brand or product owner. The rules and guidelines are set out in general European legislation and regulations. As a result, Pay-by-Bank may look very different from one online shop to another, when they use different PSPs. Pay-by-Bank belongs to no one and to everyone.<\/p>\n\n\n\n<h3 id=\"h-purchase-protection-or-not\" class=\"wp-block-heading\">Purchase protection or not?<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">The features of Pay-by-Bank and Wero will start to diverge from 2028 onwards. Wero will then offer \u2018purchase protection\u2019 for buyers at many online shops and institutions. Pay-by-Bank will not offer this purchase protection, just as iDEAL|Wero does not offer it.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">With iDEAL|Wero and Pay-by-Bank, every payment is \u2018irrevocable\u2019; once paid, it is final. The buyer can only request a refund from the seller. With Wero, in many cases the buyer can request a refund from their own bank if the seller fails to deliver and the buyer and seller do not come to a mutual agreement on a replacement or refund.<\/p>\n\n\n\n<h3 id=\"h-more-choice-and-competition\" class=\"wp-block-heading\">More choice and competition<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">In time, Wero will offer more payment options, such as automatic monthly payments for a recurring subscription and contactless payments with a smartphone at physical points-of-sale. These types of payments are not expected for Pay-by-Bank. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Pay-by-Bank offers single online payments that are similar in many respects to the old iDEAL. It leads to more choice and competition amongst online payment methods.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Dutch people mainly use iDEAL|Wero for online payments, for example in online shops. After 20 years, virtually every Dutch person knows what it is and how to use it. Recently, a new online payment method has been in the news: Pay-by-Bank. This allows you to pay online via your own bank\u2019s mobile app or secure [&hellip;]<\/p>\n","protected":false},"author":8,"featured_media":5964,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"editor_notices":[],"footnotes":""},"categories":[20],"btv_subject_tax":[30,17,18],"class_list":["post-5963","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","btv_subject_tax-account-to-account-payments","btv_subject_tax-online-payments","btv_subject_tax-recieving-payments"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin  - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Pay-by-Bank, what is it? - Dutch Payments Association<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.betaalvereniging.nl\/en\/news\/pay-by-bank\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Pay-by-Bank, what is it?\" \/>\n<meta property=\"og:description\" content=\"Dutch people mainly use iDEAL|Wero for online payments, for example in online shops. 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