The Rise of Pay by Bank: eBay partners with TrueLayer

The UK's digital payments landscape has shifted, with eBay, the global commerce leader, announcing a partnership with TrueLayer to introduce Pay by Bank at checkout.

The move brings instant, secure bank payments to millions of UK buyers, marking a significant milestone for open banking adoption in the e-commerce sector.

Through this integration, eBay buyers can pay directly from their bank accounts. The process involves authorising the transaction through their own bank app in seconds, offering a frictionless alternative to traditional card-based systems.

As the system utilises bank-grade technology to authenticate the payment, buyers’ login information is never shared with or stored by eBay.

Frictionless payments at scale

For TrueLayer, Europe’s leading Pay by Bank network, the partnership represents a major expansion of its footprint into the everyday retail habits of UK consumers.

Francesco Simoneschi, CEO and Co-Founder of TrueLayer notes: “Our partnership with eBay brings Pay by Bank into the everyday shopping journey of millions of UK customers. By integrating directly into eBay’s checkout, we’re enabling instant, bank-authenticated payments at scale, while merchants benefit from faster settlement and a more streamlined payment experience.

"This is another step towards a real-time payments ecosystem that aligns with modern consumer expectations.”

Francesco and the TrueLayer team have focused on combining real-time bank payments with financial and identity data. This infrastructure allows businesses to accept money and make payouts in seconds across 22 countries.

Diversifying the checkout mix

While credit cards and digital wallets remain available for consumers, the addition of a real-time bank transfer option caters to a growing demographic of consumers who prefer direct account-to-account transactions. All eligible purchase are covered automatically by eBay’s Money Back Guarantee. 

Avritti Khandurie Mittal, Vice President of Product for eBay Services notes: “We’re constantly evolving eBay’s checkout experience to expand choice and make paying on our platform safer, faster and more seamless.

"Pay by Bank represents an important step in diversifying our payment mix with a secure, real-time way for buyers to pay directly from their bank accounts.”

The collaboration extends beyond a simple commercial agreement.

eBay Ventures has made a strategic investment in TrueLayer, signaling a long-term commitment to the fintech’s underlying technology. This investment follows a year of significant momentum for the London-based firm, which was founded in 2016 by Francesco Simoneschi and Luca Martinetti.

As merchants across Europe increasingly prioritise fast, safe – and flexible – payment options, the shift toward open banking continues to gain pace. For TrueLayer, the backing of a major global marketplace underscores the company's position as a leader in the space.

Avritti continues: “Through our partnership with TrueLayer, we’re bringing this innovation to millions of UK customers while continuing to build a more modern, efficient payments experience.”