Why Pay-by-Bank Is Best for Deposit Payments

Pay-by-Bank
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Deposit

Stop losing money on fees and delayed payouts. Wallid Pay-by-Bank powers instant, secure deposit payments with no chargebacks.

Deposits are common in ecommerce — from pre-orders and partial payments to booking fees. But traditional methods (cards, PayPal, manual bank transfers) come with problems: high fees, delays, chargebacks, and poor tracking.

Pay-by-Bank, powered by open banking, fixes deposits with real-time, verified bank transfers. No intermediaries. No risk of reversals. Just fast, secure deposits that boost your cash flow.

Ditch fraud-prone card payments.
With Wallid’s Pay-by-Bank, every transaction is bank-authenticated, eliminating chargebacks and fake users — instantly.

Ecommerce fraud is expensive — not just in revenue loss, but in lost trust and higher processing fees.

Wallid Pay-by-Bank is designed to stop fraud at the source — by removing the tools fraudsters rely on, like stolen cards and spoofed identities.

Let’s dive into why it’s the most secure way to pay.

What Is Pay-by-Bank for Fraud Prevention?

Pay-by-Bank uses secure open banking APIs to initiate payments directly from a customer’s bank account — authenticated via their banking app with SCA (Strong Customer Authentication).

No card numbers to steal
Bank-level security
Verified identity via biometric login
Zero chargeback liability
PSD2 and GDPR compliant

Why Pay-by-Bank Beats Traditional Payment Methods

No Card, No Problem

Card fraud relies on stolen numbers and weak verification. Pay-by-Bank removes card details completely — there’s nothing for fraudsters to steal or spoof.
Biometric-Backed Identity

Transactions are verified using fingerprint or facial recognition in your customer’s banking app — making identity theft nearly impossible.
No Chargebacks

Since Pay-by-Bank is a push payment (initiated by the customer), chargebacks don’t apply.
That means:
❌ No friendly fraud
❌ No abuse of refund systems
✅ Lower operational costs and disputes
Real-Time Risk Reduction

Because the bank verifies identity instantly, you block fake accounts and stolen credentials before they reach checkout.
Secure by Default

Wallid Pay-by-Bank is built on open banking and SCA compliance — no need to worry about PCI DSS or extra fraud screening layers.

Fraud Prevention Comparison

Noman A

Impressive performance for a newer platform

I wasn’t sure what to expect, but WallidPay has been rock solid from day one. Real-time payments, no hidden fees, and a clean dashboard. I’m impressed with how polished everything is.

Rebecca L

Great for UK sellers

Most of my customers are UK-based, and WallidPay supports all major banks. It’s made the checkout process faster and improved my conversion rate. Plus, I’m paying way less in fees compared to Stripe.

David H

More secure than using cards

WallidPay’s direct-from-bank payments feel way more secure than entering card info online. No more worrying about fraud or chargebacks. It's the future of online payments, especially in the UK.

Zara M

Excellent customer service

I had a few questions while integrating WallidPay, and their live chat support guided me through everything. Very professional and friendly. The platform is reliable, and I’ve had zero payment issues so far.

Ben R

Super smooth checkout experience

I used WallidPay as a customer for the first time last week — no card details needed, just my banking app. It felt safe and took less than 10 seconds. I hope more shops start using it.

Amna S

Easy setup and instant payments

I set up WallidPay with my store in under an hour. It syncs perfectly with Shopify, and payments hit my account immediately. Their support team is responsive and super helpful. Couldn’t ask for more.

Jake T

Finally an affordable way to accept payments!” – Jake T.

WallidPay has saved my business a ton on processing fees. Direct bank payments are quick and secure, and my customers love not needing to enter card info. Highly recommended for small business owners looking to cut costs without compromising on quality.

Gwenda Wilson

Peace of Mind for Us and Our Buyers

WallidPay gives both us and our customers real peace of mind. Transactions feel safer, and we know every order has been verified properly. It’s one of those tools that works silently but plays a critical role in daily operations. Highly recommended to anyone serious about eCommerce.

Robin

Just What We Needed

We needed something lightweight but effective for verification, and WallidPay delivered. It’s well-built, intuitive, and doesn’t bloat our checkout. It’s nice to finally find a security tool that isn’t overcomplicated. Great job to the developers.

Tracey

Improved Customer Confidence Instantly

We added WallidPay and noticed a change in buyer behavior almost immediately. Customers were more likely to complete orders, and fraud issues dropped. It's clear that the presence of smart verification reassures people. One of the best plugins we’ve used.

Campbell

Smooth, Secure, and Smart

WallidPay is one of those apps that you don’t realize you need until you try it. It protects our store, gives customers peace of mind, and doesn’t interrupt the buying experience. It checks all the boxes—and then some.

David Evans

Made Our Store Feel Legit

Before WallidPay, our checkout felt incomplete. This app made a huge difference by adding structure and verification. It just feels more legitimate and polished now. And because it's automated, I don’t have to babysit orders anymore.

Gagan

Great Value for the Features

Considering how important customer trust is, WallidPay is an absolute bargain. It brings enterprise-level verification and security to small stores like mine. I was nervous about setting it up, but it turned out to be super simple. The value it provides is huge.

Flora

Professional Look and Feel

The addition of WallidPay instantly made our store feel more professional. The clean design and seamless integration make it look like a native feature rather than a third-party app. Our checkout page feels more secure and modern now. It’s a small touch, but it makes a big difference when you’re trying to build customer trust.

Gray

Quick Setup, Lasting Impact

WallidPay was set up in under 10 minutes and has been running perfectly ever since. I really appreciate how easy it was to get started—no tutorials, no long documents, just straight to the point. It's helped build trust with our customers, and we’ve seen fewer chargebacks since. It’s clear that this app was made by people who understand the needs of eCommerce stores.

Conclusion: Why Switch to Pay-by-Bank?

If you're still relying on card payments, you’re exposed to

❌ Stolen credentials
❌ Chargebacks
❌ Compliance headaches
Wallid Pay-by-Bank offers

✅ Verified, bank-authenticated identity
✅ No card data to steal
✅ No chargebacks
✅ Instant, frictionless checkout