- Worldline has launched Bank Transfer by Worldline, an account-to-account payment tool.
- The new pay-by-bank solution enables retailers to accept bank draft payments and handle high-value transactions, including B2B payments, across 10 European countries.
- Bank Transfer by Worldline also facilitates cross-border payments, leveraging Worldline’s open banking network to connect with over 3,500 banks, providing merchants a seamless way to initiate payments directly from customer bank accounts, reducing transaction fees and declines.
Payments services company Worldline is launching yet another payment tool this week. After debuting its embedded payments tool earlier this month, the France-based company is launching Bank Transfer by Worldline, an account-to-account payment method.
The new pay-by-bank solution enables retailers to accept bank draft payments and allows for non-traditional payment methods, including invoices and high-value transactions. Bank Transfer by Worldline boasts many of the same benefits that popular pay-by-bank tools offer.
The solution is notably different from traditional pay-by-bank offerings in the U.S. because it facilitates cross-border payments. This is key for merchants operating across multiple geographies. Additionally, the new payments tool specializes in high-value transactions– including B2B transactions– that typically incur higher fees and reduces the number of declined transactions, since funds are validated directly from the bank account.
“With Bank Transfer by Worldline, we have developed a payment method grounded in trust and simplicity, leveraging existing European payment networks and offering innovative customer experience,” said company Head of Merchant Services Paul Marriott-Clarke. “This launch reinforces our commitment to making payment solutions accessible for all.”
Bank Transfer by Worldline, which went live in August of 2024, allows merchants to accept payments from around 300 million customers. After a nine-month pilot phase, the solution now counts about 500 Worldline merchants clients using Bank Transfer by Worldline’s online payment solutions and pay-by-link services.
“By integrating Worldline’s open banking solution, which connects to over 3,500 banks across European countries, Bank Transfer by Worldline offers merchants a solution that simplifies payment initiation via bank transfer and unifies the customer experience,” said Worldline Head of Financial Services Alessandro Baroni.
The new tool is available for merchants in 10 European countries, including Austria, Belgium, Croatia, France, Germany, Italy, Luxembourg, the Netherlands, Slovenia and Spain. The company aims to launch in another four regions– Poland, Slovakia, Czech Republic and Hungary– by the end of 2024. Eventually, Bank Transfer by Worldline will be available to all eligible merchants across the EU.