Digital Transactions
Pay by bank is not a new electronic-payments concept—consumers have been paying utility bills with their bank accounts for years—but the promise of lower fees and reduced merchant headaches is energizing the service, and work is at hand developing new use cases.
Witness Radial Inc., an e-commerce platform adopting Link Money’s pay by bank tech and J.P. Morgan Payments 2023 launch of a pay by bank service. Now, Fiserv Inc., the big Milwaukee-based processor, is touting the benefits of pay by bank. Notably, this effort is positioned as a companion to other digital payment methods, such as credit and debit cards.
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