Worldline Launches Pay by Bank for High-Value Transactions in Europe
Worldline launched a new pay-by-bank payment method that caters to businesses that handle high-value transactions.
The Bank Transfer by Worldline solution was launched in 10 countries across Europe in August and will be extended to four more by the end of 2024, the payments technology provider said in a Thursday (Oct. 17) press release.
“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,” Paul Marriott-Clarke, head of merchant services at Worldline, said in the release.
The solution addresses common challenges faced by businesses that handle high-value transactions, such as card limits and heightened fraud risk, according to the release. By doing so, it minimizes the likelihood of declined transactions and reduces costs for merchants.
Bank Transfer by Worldline also offers businesses cross-border capabilities, the release said.
The solution features low-code integration, rapid settlement notifications, hassle-free refunds, and consolidated payout, reporting and reconciliation, per the release. It enables merchants to accept payments from 300 million eligible customers.
Bank Transfer by Worldline has been integrated into the online payment solutions and pay-by-link services of about 500 of Worldline’s existing merchants, and it will be expanded to include all eligible merchants across the European Union, according to the release.
“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,” Alessandro Baroni, head of financial services at Worldline, said in the release.
In an earlier, separate product launch, Worldline and OPP said Oct. 9 that they introduced an embedded payments solution for customers in Europe. The solution lets platforms and marketplaces offer features like split payments, advanced escrow and mediation handling.
In July, it was reported that Worldline formed a partnership with PayEye to use biometrics to bolster security measures and reduce the risk of fraud and unauthorized transactions. PayEye’s offerings include the eyePOS payment terminal, which lets users carry out transactions via a combination of iris and facial biometrics.
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