Segpay Expands Pay by Bank to Eight European Markets
The payment service now operates in Belgium, Finland, France, Ireland, the Netherlands, and Spain alongside existing UK and German availability.
Updated on Nov. 5, 2026 in Financial Services
Segpay has expanded its Pay by Bank service to six additional European markets, bringing the total to eight. The service, powered by TrueLayer, lets customers approve payments directly through their banking app.
Why it matters
Segpay states that not every customer wants to pay with a credit card, and merchants need alternative payment options. Authorizing payments directly through the customer's bank bypasses traditional card-network chargebacks.
Pay by Bank now covers 8 European markets, up from 2 previously, with one-time purchases supported in GBP and EUR. Recurring payments remain unsupported, and no timeline for adding them was provided.
The players
Segpay
Segpay is a payments provider that offers merchants alternative checkout options beyond traditional card payments.
TrueLayer
TrueLayer is an open banking platform that powers Segpay's Pay by Bank service.
The details
Customers select their bank, approve the payment through their banking app using Face ID or a fingerprint, and receive confirmation within seconds. The service uses real-time payment networks, including SEPA Instant in the European Union and Faster Payments in the UK, and supports refunds.
Timeline
November 5, 2026: Segpay announces the expansion of Pay by Bank to eight European markets.
Market Landscape
Pay by Bank runs on real-time rails such as SEPA Instant, which allow banks to authorize payments without card networks. Segpay's rollout across eight European markets extends that model to merchants seeking alternatives to card checkout.
Shoppers in the newly added markets can now pay directly from their bank account via their banking app rather than entering card details. Merchants offering Pay by Bank gain an option that avoids card-network chargebacks, though recurring billing is not yet available.
The takeaway
Pay by Bank gives European shoppers a card-free option that authorizes directly through their bank, which may appeal to merchants and customers seeking alternatives to traditional card payments. Whether it expands to recurring payments will determine its reach for subscription businesses.
Further reading
For more on how banks and payment providers are reshaping checkout, see Financial Services.
