Comparisons

Pay-by-Bank vs Card Payments: What’s Better for Your Shopify Store?

Ditch high card fees and chargebacks. Wallid Pay-by-Bank offers instant, secure, and low-cost checkout designed for modern ecommerce.
Card payments remain the default in ecommerce, but they come at a steep price: fees, fraud, and payout delays.
Pay-by-Bank (Wallid) is the open banking alternative built for Shopify merchants. Customers pay directly through their bank app — no cards, almost zero chargebacks, no waiting.
Here’s why merchants are switching.
The Real Problem with Card Payments
  • Expensive
    Card networks, acquirers, issuers, and gateways all take a cut.
  • Fraud-prone
    Card-not-present fraud, stolen details, and "friendly fraud."
  • Slow payouts
    Funds often take 2−5 business days to reach you.
  • Data risks
    Merchants must handle and secure sensitive cardholder data.
  • Clunky UX
    Manual card entry slows mobile checkout.

What Is Pay-by-Bank?

Pay-by-Bank is a direct account-to-account (A2A) payment method powered by open banking.
  • Authorised via customer’s banking app
    (Face ID, Touch ID, passcode)

  • Instant or same-day settlement

  • Flat low fee (1% + 25p)

  • Almost Zero Chargebacks. No Card Scheme Fees.

  • Works across all UK & EU banks

Pay-by-Bank vs Card Payments

FeaturePay-by-BankCard Payments
Fees 1% + 25p flat 1.5–3% + scheme & gateway fees
Payout Speed Instant / same day 2–5 business days
Chargebacks None Frequent & costly
Fraud Risk Very Low (bank-authenticated) High (CNP fraud, stolen cards)
Authentication Biometric via bank app Manual entry + 3DS
Mobile UX Seamless (auto bank app) Average (typing card details)
Recurring Support Limited (coming soon) Fully supported

Why Merchants
Prefer Pay-by-Bank

  • Lower fees — save up to 70% vs cards

  • Almost zero chargebacks — every payment is final

  • Instant payouts — no 3–5 day delays

  • Secure checkout — no card data ever shared

  • Mobile-first UX — one-tap approval via bank app

Conclusion

  • Card Payments

    Card payments come with fees, fraud, and frustration.
  • Pay-by-Bank

    Pay-by-Bank offers the modern alternative — instant, low-fee, and chargeback-free.
For Shopify merchants, adding Pay-by-Bank isn’t just about cutting costs — it’s about boosting trust and conversion at checkout.

What Our Clients Say About Us

* Shopify 3rd party fees may apply.

Trusted by
1000+ Merchants

Ready to Cut Card Fees and Fraud?

!
Disclaimer: This article is for informational purposes only and based on 2025 UK ecommerce data. Fees and features may vary by provider, location, and Shopify plan. Always verify the latest details with Shopify and your payment provider.
Frequently Asked Questions
Yes. Most merchants keep cards but add Pay-by-Bank to reduce costs and risk.
Yes. It uses PSD2-regulated Open Banking APIs with biometric authentication.
No. They simply use their existing banking app.
Refunds go directly back to the customer’s account, instantly.