What Is Pay by Bank? Top Questions Canadian Businesses Ask
April 2, 2026
Pay by bank is a simple way for your customers to pay you straight from their bank account. It’s fast, familiar to Canadians, and can help businesses lower payment costs, reduce chargebacks, and get paid sooner.
What is pay by bank?
Pay by bank lets customers pay directly from their Canadian bank account using their regular online or mobile banking. Instead of entering card numbers, they click a secure payment link, choose their bank, log in, and approve the payment. Interac e‑Transfer® is one of the most familiar examples of this type of experience.
How does it work with Clik2pay?
With Clik2pay’s pay by bank solution, you share a payment link or QR code in your invoice, text message, email, or checkout page. Your customer taps the link, selects their bank, signs in through online banking, confirms the exact amount you requested, and you receive real‑time payment confirmation.
Why do Canadian businesses care?
Canadian businesses use pay by bank to:
-
Save on processing costs compared with credit cards
-
Reduce chargebacks and late payments
-
Improve cash flow with faster, confirmed payments
It’s especially useful for higher‑value invoices, subscriptions, and recurring bills where card fees and declines add up quickly.
Why do customers like it?
Customers don’t need to set up a new account or download an app. They:
-
Use the bank they already know and trust
-
Avoid entering card details on every new website
-
Feel more comfortable using their bank account, especially for larger purchases or bills
For many Canadians, paying from their bank simply feels safer and more in control than using a credit card online.
Is pay by bank secure?
Pay by bank uses the same bank‑grade security that protects online banking:
-
Strong customer authentication (like multi‑factor login)
-
Encrypted connections end‑to‑end
-
Real‑time confirmation that reduces fraud and errors
Because customers authenticate directly with their bank, they keep sensitive login details within an environment they already trust.
Where can I use pay by bank?
You can add pay by bank to most of your existing payment flows, including:
-
Online checkout for eCommerce orders
-
Invoices and recurring billing cycles
-
Payment reminders and dunning workflows
-
Donations and fundraising
-
Collections and past‑due accounts
It works well for eCommerce, professional services, utilities, telecom, non‑profits, and any business that sends regular bills.
Want to show customers a better way to pay from their bank account? Book a demo with Clik2pay to see how pay by bank could work for your business: https://clik2pay.com/contact/
