Pay By Bank: Unbundling the Payments Value Chain

Large and small merchants are uplifting their customers’ experience and reducing the cost of payments—often seen as two diametrically opposed ideas. With the advent of open banking technology and new data aggregation providers, U.S. merchants have the opportunity to do both. Aptly known as Pay by Bank (PBB), merchants are increasingly enabling their customers to use traditional banking rails to pay their bills and make purchases online. Using APIs and data aggregation, merchants are offering customers greater convenience and security, reducing adverse payment outcomes, while shifting volume to lower cost payment methods. Speakers in this session examine the importance of creating strategic partnerships within larger consumer data ecosystems, allowing financial institutions to meet clients where they stand while making online checkout simpler, faster and more secure while exploring how increased PBB usage will influence the industry in the years to come.