Visa has launched its new pay-by-bank solution, Visa A2A, in the UK. This innovative solution offers consumers greater control and protection over bank transfers, aiming to make pay-by-bank transactions safer and smarter.
Visa A2A offers a user-friendly bank app for managing bills and subscriptions and introduces Visa’s top consumer protections for bank transfer transactions. This includes clear guidelines for consumers, businesses, and banks on rights and responsibilities in case of errors, providing a similar level of protection as card payments.
Mandy Lamb, Managing Director, Visa UK and Ireland, said, “The UK has spearheaded innovation in financial services for many years, and in light of increasing fraud and international competition, we must continue to lead the way. We are proud to be working with our partners to deliver a state-of-the-art pay-by-bank experience, coupled with Visa’s best-in-class consumer protections.
“Visa A2A is a game-changer—it means for the first time UK consumers and businesses using pay-by-bank will benefit from a similar level of protection typically associated with card payments.”
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Myles Stephenson, CEO & Founder of Modulr, said, “We’re delighted to be part of the launch group of Visa A2A, working closely with Visa and other participants to drive forward the next phase of innovation in A2A payments. This is a significant step forward in implementing a sustainable, industry-leading solution, aligning with Modulr’s commitment to provide seamless and secure payment experiences for customers.”
Visa A2A offers businesses near real-time settlement through Pay.UK’s Faster Payment System, providing greater visibility and simplifying cash flow management. Its digital nature allows for notifications on payment permission changes and allows for more transaction data for reconciliation, benefiting businesses in the digital era.
“A2A payments are rapidly gaining traction across UK businesses and consumers, offering a seamless and efficient way to transact. However, for these payments to reach their full potential, the right framework—rules, capabilities, and protections—must be in place. That’s why we’re excited to collaborate with Visa and our industry partners to bring Visa A2A to the UK. This milestone innovation will enhance payment experiences and deliver greater security and convenience to Nationwide members.” Isabel Pitt, Deputy Director of Payments, Nationwide Building Society.
Built on an open model that will allow banks and other industry partners to participate and expand open banking-enabled payments to companies. Visa A2A, with a commercial model designed to benefit all ecosystem participants, including the UK fintech community, will contribute to unlocking the full potential of open banking in the UK.
Delphine Emenyonu, Head of Unsecured Lending & Open Banking, TSB, said, “We welcome the opportunity to collaborate on Visa A2A in the UK alongside Visa and other industry participants.” As interest in A2A payments continues to grow among UK consumers and businesses, ensuring the right infrastructure, standards, and protections are in place will be key to supporting their future development. We look forward to seeing how this innovation can benefit TSB’s customers.”
According to Innovate Finance research, expanding the UK’s fintech ecosystem, which is a key partner in the development and execution of Visa A2A, may unlock £328 billion over the next five years.
Alexey Gabsatarov, Chief Technology Officer, Kroo, said, ”An important step forward for both open banking and account-to-account payments. We view it as an inclusive, industry-led model that prioritizes consumer protection, confidence and usability. Visa has already demonstrated the benefits of applying its card scheme expertise to A2A payments, and we look forward to deepening our partnership to increase choice and strengthen trust for consumers, businesses and the wider banking community.”
Safer Ecommerce
With an operational technology platform ready to process bills and subscriptions, Visa plans to expand Visa A2A, including ecommerce payments in the UK with a phased approach. This expansion means consumers choosing to use pay-by-bank across a variety of use cases could benefit from similar levels of protection to those currently offered by card payments.
Visa A2A for e-commerce will offer a secure, hassle-free way to pay directly through bank accounts. Customers will be able to authorize this payment method once, then simply choose “pay by bank” at checkout for a one-click purchase experience that is fast, seamless and secure.
“Visa is changing how money moves with A2A payments, and Checkout.com is proud to be one of the first to bring this solution to merchants in the UK. Together, we are giving merchants the latest option in market innovation, setting a new standard for speed, security, and payment performance.” said Matthieu Barral, VP, Global Partnerships, Checkout.com.
Utilita Energy Chief Technology Officer Ian Burgess expressed enthusiasm for its partnership with Visa, expressing its commitment to providing customers with choice and integrating Visa A2A’s card-like protection for merchants and consumers. The company is eager to integrate this technology into credit and prepaid payment journeys.
Zak Lambert, Head of Product for Plaid Europe, echoed, “This partnership brings together Visa’s trusted rails and Plaid’s open banking network to make pay-by-bank as simple and secure as card-on-file.” It’s a new standard for how consumers and businesses move money—fast, protected, and ready to scale.”
Eline Blomme, Chief Product & Strategy Officer, Acquired.com, said, “We are incredibly enthusiastic about the future of A2A payments with Visa and discussing this with our industry peers. The collective expertise in this space is instrumental as we work to bring Variable Recurring Payments (VRPs) to the forefront of the UK market.”
Ian Morrin, Head of Payments, Tink, concluded with these words: “There is clear momentum behind pay-by-bank solutions in the UK market, so it’s fantastic to see Visa spearheading innovation and industry collaboration with the development of Visa A2A.”
“This is a pivotal moment for fintech companies and banks to work together to provide enhanced account-to-account experiences for consumers and businesses alike.”
