eBay Bets on A2A with TrueLayer Investment and UK Pay by Bank Rollout
eBay Ventures has backed Pay by Bank in the UK through a strategic investment and partnership in TrueLayer, bringing instant, secure bank payments to millions of buyers. The solution uses open banking technology to authenticate payments, with TrueLayer connecting directly to the buyer’s bank without sharing login credentials with eBay.
“Our partnership with eBay brings Pay by Bank into the everyday shopping journey of millions of UK customers,” said Francesco Simoneschi, chief executive officer and co-founder of TrueLayer.
“By integrating directly into eBay’s checkout, we’re enabling instant, bank-authenticated payments at scale, allowing merchants to benefit from a faster and more streamlined payment experience. This is another step towards a real-time payments ecosystem that aligns with modern consumer expectations.”
“We’re constantly evolving eBay’s checkout experience to expand choice and make paying on our platform safer, faster and more seamless,” said Avritti Khandurie Mittal, Vice President of Product for eBay Services.
For eBay, the economics of account-to-account (A2A) payments are compelling. Card rails remain expensive for large marketplaces, where interchange, scheme fees, cross-border assessments and fraud costs quickly compound.
Pay by Bank reduces reliance on card networks, lowers processing costs and offers immediate settlement, improving seller cash flow and reducing exposure windows for the platform.
Because open banking payments are authenticated at the bank level using strong customer authentication, chargeback exposure is significantly lower than with cards, an important consideration for marketplaces managing high dispute volumes.
Pay by Bank joins existing options including cards, digital wallets and buy now, pay later, as eBay continues to diversify its payment mix while maintaining buyer protections under its Money Back Guarantee.
