Open banking is transforming how UK Shopify CFOs manage cash flow. With faster, cheaper payments like Pay by Bank, finance teams can achieve real-time visibility, accurate forecasting, and operational agility—without relying on card networks.
Why Open Banking Matters to Shopify CFOs
In 2025, the UK leads Europe in open banking adoption. Shopify merchants are increasingly offering Pay by Bank options, which leverage direct bank-to-bank payments through secure APIs. Unlike traditional card processing, this method offers:
- Instant fund transfers (vs. 2–3 day card payouts)
- Flat-rate or minimal fees (vs. 1.4–3% for cards)
- Real-time payment visibility for accurate forecasting
Shopify Cash Flow With vs Without Open Banking
How Open Banking Works in Shopify
Open banking enables platforms to initiate payments directly from the customer’s bank account to the merchant’s—bypassing card networks and intermediaries.
For CFOs, this means:
Example: When a customer pays via Pay by Bank, funds are cleared instantly—ideal for syncing ad spend, inventory restocks, and short-term liquidity planning.
For CFOs, this means:
- No authorization delays
- No batch processing
- No settlement holds
Example: When a customer pays via Pay by Bank, funds are cleared instantly—ideal for syncing ad spend, inventory restocks, and short-term liquidity planning.
Trend Outlook: Open Banking in Shopify (2025–2027)
According to the UK’s Open Banking Implementation Entity (OBIE), SMB adoption of open banking payments is growing at 10% month over month.
By 2027:
By 2027:
- Over 50% of UK Shopify stores will offer Pay by Bank
- Real-time rails will power daily cash flow operations
- CFOs will embed open banking into AI-based forecasting tools
FAQ
What is Pay by Bank, and how is it different from card payments?
Pay by Bank uses direct bank transfers—bypassing card networks for faster, cheaper, more secure transactions.
Do Shopify stores need third-party apps to use Pay by Bank?
Yes—most stores need a provider like Wall ID to integrate open banking at checkout.
Is open banking secure and regulated in the UK?
Yes—FCA-regulated APIs with SCA-compliant authentication ensure bank-grade security.
How does Pay by Bank improve revenue?
It reduces friction at checkout, increasing completed purchases and boosting conversion rates.
Can Pay by Bank be used alongside cards?
Absolutely—it’s offered as an additional payment option during checkout.
Pay by Bank uses direct bank transfers—bypassing card networks for faster, cheaper, more secure transactions.
Do Shopify stores need third-party apps to use Pay by Bank?
Yes—most stores need a provider like Wall ID to integrate open banking at checkout.
Is open banking secure and regulated in the UK?
Yes—FCA-regulated APIs with SCA-compliant authentication ensure bank-grade security.
How does Pay by Bank improve revenue?
It reduces friction at checkout, increasing completed purchases and boosting conversion rates.
Can Pay by Bank be used alongside cards?
Absolutely—it’s offered as an additional payment option during checkout.
Speakable
UK CFOs should adopt open banking in Shopify to eliminate delays, reduce transaction costs, and gain real-time cash flow visibility and forecasting precision.
