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The most cost-efficient checkout solution for e-commerce Pay by bank now live on Magento

The most cost-efficient checkout  solution for e-commerce Pay by bank  now live on Magento 


Any merchant with a Magento website can now activate IRIS Solutions' "Pay by Bank". Pay by Bank is an online payment method that combines convenience, speed and efficiency. 


This type of payment method allows direct payments from a customer's bank account to a merchant's bank account with a few clicks, without requiring customers to enter sensitive financial data. 


The main advantages of "Pay by Bank" for users are:  

  • Efficiency - save up to 80% of checkout costs, compared to card schemes  

  • Fast Payments: Payments are made very quickly, and in some cases merchants can receive their money within seconds;   

  • Convenience: Merchants are protected from fraudulent transactions

  • No receipt needed: since its a bank payment, no receipt is needed to be printed and sent to your clients


If you are an entrepreneur and you use Magento for your platform, we have a special offer for you:  

  When activating of the service until 30 April 2024 you receive:  


  • No integration fee  

  • No technical support fees during the first 12 months of the contract  

  • No transaction fees until 01 June 2024. After this period, the merchant pays a fee of 0.55% of the value of each transaction 



For more information, press the button above or write to:  


What is "Pay by Bank"  

Pay by Bank gives consumers more choice while allowing businesses to accept instant account-to-account payments from anyone with a payment account.  

It's an easy way for anyone - a company or an individual - to pay directly from their account. After the user authenticates in their usual way, such as using their Face ID, fingerprint or token, the money moves from their account to the account of a merchant, utility company, mobile operator, etc. instantly. 

Pay by Bank complements the current payment ecosystem. Consumers get a payment method that has everything they want and expect – familiarity, speed, reliability and convenience. 

 Read more about Pay by Bank HERE 


More about Iris Solutions 


IRIS Solutions ("Iris Solutions" OOD) is a licensed payment institution regulated by the BNB - licensed as a European payment service provider (PSP) in accordance with the Second Payment Services Directive (PSD2). The license entitles the company to provide payment initiation services and account information services. 

IRIS Solutions is the leading provider of Open Banking in South Eastern Europe (SEE). We have integrated more than 60+ banks and financial institutions from the region. As of February 2024, we cover 95%+ of financial institutions in SEЕ Europe. 



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