Using Bank Payments Online

What are Online Bank Payments?

Online bank payments (also known as direct bank transfer or online bank payment) let consumers pay merchants directly from their bank accounts through secure banking interfaces. These methods leverage local banking systems (e.g., iDEAL in the Netherlands, Bancontact in Belgium, BLIK in Poland) and often use SEPA for Euro‑area transfers. They offer real-time or near real-time confirmation, high transaction security, and avoid reliance on global card networks. Payment options vary by country—for example, iDEAL dominates the Netherlands, Bancontact is widely used in Belgium, BLIK leads in Poland, while Sofort (Germany/Austria), EPS (Austria), Giropay (Germany), Przelewy24 (Poland) also serve their national markets.

The pro's of using Bank Payments

High security: Uses your own bank’s authentication and avoids sharing card details.
Instant confirmation: Merchants receive fast, reliable payment notices, reducing cart abandonment
Low transaction costs: Often cheaper than credit‑card fees, especially for merchants.
Local consumer trust: Well‑known domestic systems (e.g., iDEAL, Bancontact) drive higher usage and confidence
Euro‑area coverage via SEPA: Enables standardized cross‑border Euro transfers across 36 countries

The con's of using Bank Payments

Country‑specific fragmentation: No single solution spans all Europe; each country has its own system, e.g., the Netherlands (iDEAL), Belgium (Bancontact), Poland (BLIK), Austria (EPS/Sofort), Germany (Giropay), etc.
Cross-border limitations: Many local methods work only domestically, requiring fallback options for pan-European merchants.
Slightly higher complexity for users: Redirects to bank portals and extra authentication steps may feel less seamless than card payments.
Merchant integration overhead: Supporting multiple local systems increases integration and maintenance burden.
Lack of buyer protection: Unlike card-based payment systems, reversing errors or fraudulent charges may be harder for users.

How to Use an Online Bank Payment (Brief Steps)

Choose the bank‑based payment option at checkout.
You’ll be redirected to your bank’s secure login interface.
Log in using your banking credentials and authenticate (often via app or 2FA).
Review pre‑filled payment details and confirm.
Payment is processed instantly or within moments; confirmation is sent to merchant.

List of All European Countries and the Local Bank Payment Methods

<table>

<thead>

<tr>

<th>Country</th>

</tr>

</thead>

<tbody>

<tr><td>Netherlands</td><td>iDEAL</td></tr>

<tr><td>Belgium</td><td>Bancontact</td></tr>

<tr><td>Poland</td><td>BLIK, Przelewy24</td></tr>

<tr><td>Austria</td><td>EPS, Sofort (Klarna Pay Now)</td></tr>

<tr><td>Germany</td><td>Sofort (Klarna Pay Now); Giropay (discontinued Dec 2024)</td></tr>

<tr><td>Sweden</td><td>Swish</td></tr>

<tr><td>Norway</td><td>Vipps (part of Vipps MobilePay)</td></tr>

<tr><td>France</td><td>MyBank; Paylib; Wero (being deployed)</td></tr>

<tr><td>Portugal</td><td>Multibanco</td></tr>

<tr><td>Italy</td><td>MyBank; Bancomat Pay</td></tr>

<tr><td>Spain</td><td>Sofort; some use of MyBank</td></tr>

<tr><td>Denmark</td><td>MobilePay (merged into Vipps MobilePay)</td></tr>

<tr><td>Finland</td><td>Trustly; Siirto</td></tr>

<tr><td>Estonia</td><td>Trustly</td></tr>

<tr><td>Latvia</td><td>BankLink</td></tr>

<tr><td>Lithuania</td><td>BankLink</td></tr>

<tr><td>Czech Republic</td><td>PayU; bank transfers</td></tr>

<tr><td>Slovakia</td><td>TrustPay; bank transfers</td></tr>

<tr><td>Hungary</td><td>SimplePay; bank transfers</td></tr>

<tr><td>Romania</td><td>Netopia; bank transfers</td></tr>

<tr><td>Bulgaria</td><td>Borica; ePay.bg</td></tr>

<tr><td>Croatia</td><td>KEKS Pay; bank transfers</td></tr>

<tr><td>Slovenia</td><td>Bankart; Flik</td></tr>

<tr><td>Greece</td><td>IRIS Online Payments</td></tr>

<tr><td>Ireland</td><td>SEPA transfers; cards dominant</td></tr>

<tr><td>United Kingdom</td><td>Open Banking payments; Pay by Bank app</td></tr>

<tr><td>Switzerland</td><td>TWINT</td></tr>

<tr><td>Turkey</td><td>FAST (instant payments)</td></tr>

</tbody>

</table>