Mollie launches Pay by Bank following GoCardless acquisition

Mollie has launched Pay by Bank, an embedded bank payment solution built on GoCardless's Open Banking connectivity. The product allows consumers to pay directly from their bank account inside the merchant's checkout, without a separate consumer brand or additional app.

The solution is available at launch in the Netherlands and the UK, with expansion across the rest of Europe planned during 2027. It is the first major product launched after Mollie's acquisition of GoCardless earlier in 2026.

Pay by Bank combines Mollie checkout with GoCardless connectivity

The product combines GoCardless's pan-European Open Banking network, including direct connections to more than 2,500 banks, with Mollie's checkout infrastructure. From the same technical foundation, merchants can support one-off payments, recurring payments and invoicing.

Because Mollie controls the bank connection directly, the company says a payment can be completed in three steps. Mollie compares this with five steps that it says are typical for other Open Banking payment flows.

For merchants, a shorter checkout flow is intended to reduce the number of points where customers can abandon a transaction. This can directly affect conversion at checkout.

Guaranteed payments and instant confirmation address merchant requirements

Pay by Bank includes guaranteed payments, instant payment confirmation and transparent pricing. The features are designed to give merchants greater certainty over whether a bank payment has been completed and when the funds can be treated as confirmed.

The solution also captures the customer's IBAN securely during the payment process. This allows an initial one-off bank payment to become the basis for subsequent recurring payments through Direct Debit.

As a result, merchants can use the same payment relationship for both immediate checkout transactions and ongoing recurring revenue.

Mollie focuses on infrastructure rather than a new consumer payment brand

Mollie has chosen not to introduce a separate consumer-facing brand for Pay by Bank. The company positions the product as payment infrastructure that operates inside the merchant's own checkout and customer experience.

Koen Köppen, CEO of Mollie, said businesses need payment infrastructure that is reliable, invisible and fully embedded in their own environment. He also said the GoCardless acquisition was intended to create a foundation for new bank payment products rather than simply add another brand to Mollie's portfolio.

Pay by Bank is the first major product resulting from that strategy, with Mollie indicating that additional products will follow.

Mollie adds transparency into bank performance

Alongside Pay by Bank, Mollie is introducing a public Issuing Bank Performance Page. The page is designed to provide visibility into how reliably individual banks perform within Open Banking payment connections.

Mollie says Open Banking depends on the performance of every participant in the payment chain. The company is therefore making bank-level performance data available as part of its effort to increase transparency for merchants and consumers.

The Netherlands serves as the first scaling market

Mollie selected the Netherlands as one of the first launch markets because it provides an opportunity to demonstrate the product at scale. The UK is also included from launch, while wider European expansion is scheduled throughout 2027.

The rollout gives Mollie a bank payment product that combines Open Banking connectivity, checkout, recurring payments and merchant-facing performance transparency within one infrastructure layer.