Pay-by-bank technology, rooted in open banking, is predicted to reshape consumer-merchant interactions and complement existing payment methods like digital wallets.
Trustly's Chief Product Officer, Adam D’arcy, believes that pay-by-bank functionality could be integrated into popular digital wallets like Apple Pay and Google Pay in the future.
The adoption of pay by bank in the US market is expected to be driven by regulatory clarity, such as Rule 1033, which legitimizes open banking practices.
Merchant adoption is crucial for the success of pay by bank, and Trustly's enterprise-first approach has already proven value in industries like telecommunications and gaming.