We break down how Pay by Bank Links deliver a secure, instant, low-cost payment option for in-person transactions — without specialist hardware or complex integrations.
Card payments dominate the point of sale — but they come with real costs. Processing fees of 1.5%–3% erode margins on high-value transactions. High average transaction values (ATV) can trigger declines. And for merchants selling luxury goods, automotive, or high-end retail, a declined payment at the till is more than an inconvenience — it's a lost sale.
What Are Pay by Bank Links?
Pay by Bank Links are payment links that allow payers to complete a transaction directly from their bank account, without entering card details or registering for a new service. They bring Pay by Bank to the point of sale via QR code, SMS, or any messaging channel.
A Pay by Bank Link can be:
- Displayed as a QR code at the till or on a receipt
- Sent via SMS before or after a service is delivered
- Shared through any messaging app for P2P or gig economy payments
Beneficiary details are pre-populated. Payers authenticate using fingerprint or face ID in their banking app. No card numbers, no PINs, no sort codes.
How do Pay by Bank Links Work at the Point of Sale?
- A Pay by Bank Link is generated via Token.io's API
- The retailer displays a QR code at the till, on a receipt, or sends it via SMS or messaging app
- The payer scans the code and is redirected to a landing page, which the retailer can fully customise
- The payer proceed to select their bank and is seamlessly redirected to their banking app to authorise and approve the payment
Both parties receive instant confirmation — with optional PDF download
What are the Key Benefits of Pay by Bank Links for Point of Sale?
- High success rates at high transaction values: Unlike card payments, which can decline on high-value purchases, Pay by Bank Links deliver consistently high authorisation rates. Any UK or EU bank account holder can pay — no separate registration is required.
- Instant, irrevocable settlement: Funds settle instantly via Faster Payments (FPS) in the UK or SEPA Instant across Europe — 24 hours a day, 7 days a week. There are no end-of-day card batches, and no chargebacks.
- Lower cost than card processing: Pay by Bank replaces card processing fees of 1.5%–3% with a significantly lower per-transaction cost. For high-value retail, the savings compound quickly.
- Branded payment experience: Businesses can customise Pay by Bank Link landing pages and payment screens with their logo, colours, and messaging.
- Reusable payment links: Token.io's Pay by Bank Links can be configured as reusable.
Available Across the UK and Europe
Token.io's Pay by Bank Links are live across all supported markets — UK, Germany, France, Netherlands, Spain, Ireland, and more — covering hundreds of millions of bank account holders.
Ready to Transform Your Point of Sale?
Speak to your Partner Manager or Contact Sales to find out how Pay by Bank Links can work for your business.