What Is PayByBank?

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Various payment methods allow people to make payments from their bank accounts with a few clicks. PayByBank is one of them. If you wish to find out more information on this payment method, then just keep reading this article.
Initial Information on PayByBank

This service is provided by the WorldBridge Payments Institution. It is used across the UK for making payments quickly and easily. It is possible to use this payment option on a range of websites and at various land-based companies. There are no fees that you will not be paying in most cases or hidden costs. Online merchants can launch this payment option on their websites by using relevant plugins. Also, they need to sign a contract with this payment service provider.

How to Use PayByBank?

There are few simple things that you will need to do in order to make transactions using PayByBank. If you wish to purchase something from an online store, then do the following:
Find an online store accepting this payment method;

    • Add your purchases to the cart;
    •  Start processing your order;
    •  Choose the PayByBank option from the list of payment methods;
    •  Get a special code on the screen;
    •  Log in to the electronic banking system that you use;
    •  Click on the PayBybank icon;
    •  Enter the code provided by the store;
    •  Confirm the payment using SMS or email.

That is all, now your payment has been processed. You do not need to be registered with the system or provide sensitive financial information to finalize your transaction.
Moreover, even if you do not use an electronic banking system, you can use phone banking and some other ways. Depending on where you wish to use this payment method, you can get your secure transaction code in other ways, such as:

  •  By SMS;
  •  Via email.

If you are not sure where exactly you can use this payment option, find the list of stores offering it on the official website of the payment method.

The Benefits of This Payment Options

There are plenty of benefits that you can enjoy by starting using PayByBank.

Cost Saving

As a customer, you will be able to make online, mobile, or phone transactions without having to pay any interbank costs. There will be no hidden costs that you may encounter.

Ease of Use

It is extremely easy to make payments using this option. All you need to do is to get a code in a variety of ways and enter it in the appropriate field.

Security

When making payments, you will not need to provide any sensitive details. This eliminates the risk that your bank card details will be stolen by cyberthieves.
Bottom Line

PayByBank is a pretty easy-to-use payment option allowing making transactions at online and land-based stores. It allows paying in a variety of ways. If you use the electronic banking system, then you can opt for this service. However, if you do not have such an option, you can simply make payments over the phone. In most cases, you will not have to pay anything for using this service.

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