# BREAKING: Amazon and eBay Launch Pay by Bank in UK Market
Amazon and eBay have introduced Pay by Bank payment options for UK customers, marking a significant shift in the e-commerce payment landscape. The move allows consumers to complete transactions through direct bank account transfers, bypassing traditional card networks and their associated fees. This development represents a major validation of open banking infrastructure in the UK market.
The rollout affects millions of UK-based shoppers on both platforms and signals growing mainstream adoption of account-to-account payment rails. For merchants, the initiative promises reduced transaction costs compared to card processing fees, which typically range from 1.5% to 3% per transaction. Payment processors and card networks may face increased competitive pressure as major retailers explore alternatives to traditional card-based checkout flows.
The timing coincides with broader European regulatory pushes toward open banking and instant payment systems, potentially accelerating similar deployments across other markets.
FXnCO Insight
Payment service providers should prepare for accelerated merchant demand for Pay by Bank integration capabilities, while card network exposure may face near-term headwinds.
Source: Finextra