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Amazon Rolls Out Pay by Bank in the UK
Amazon has launched Pay by Bank in the UK, allowing customers to pay directly from their bank accounts without using debit or credit cards. The rollout is powered by open banking and represents one of the strongest endorsements yet of account-to-account payments by a global e-commerce leader. By bypassing card networks, Amazon can significantly reduce transaction fees while offering a smoother checkout experience. For consumers, the move normalises open-banking payments at massive scale, helping build trust in bank-to-bank alternatives. For merchants and fintechs, it validates years of investment in open banking infrastructure. Strategically, Pay by Bank challenges the dominance of card schemes and could accelerate similar launches across other large platforms. If adoption scales, this could mark a structural shift in how digital commerce payments are made in the UK and beyond.
#fintech #payments #banking
