TrueLayer and Stripe Introduce Pay by Bank in Finland

TrueLayer and Stripe launch Pay by Bank in Finland

• TrueLayer has launched Pay by Bank payments in Finland, delivered through Kustom Checkout and powered by Stripe.
• Kustom—described as the leading checkout solution in the Nordics—serves more than 24,000 online merchants.
• The rollout begins this month and is expected to become available to all Kustom merchants soon.
• The companies are positioning Finland—given its high online banking usage—as a prime market for Pay by Bank adoption in Europe.

Introduction to Pay by Bank in Finland

Pay by Bank is arriving in Finland with the backing of three familiar names in European payments: TrueLayer, Stripe, and Kustom. TrueLayer, which describes itself as Europe’s fastest-growing payments network, has announced the launch of Pay by Bank payments in Finland. The method will be available through Kustom Checkout and is powered by Stripe—bringing together open banking rails and a global payments platform in a single checkout experience.

The pitch is straightforward: enable shoppers to pay directly from their bank account in seconds, without entering card details or manually typing payment information. In practice, that means a bank-based payment option presented alongside other methods at checkout—one designed to match how Finnish consumers already use online banking.

Finland is central to the story because of its reputation for strong digital banking habits. TrueLayer explicitly frames the country as “one of the most advanced markets for Pay by Bank adoption in Europe,” citing Finland’s high level of online banking usage. In other words, this is not a “test market” chosen at random; it is a market where consumer behavior already aligns with the promise of instant bank payments.

The launch is also notable for its distribution channel. Rather than asking thousands of merchants to integrate a new payment method one by one, the companies are using Kustom Checkout as the delivery mechanism. Kustom is described as the leading checkout solution in the Nordics, serving over 24,000 online merchants. That footprint matters: it turns a product launch into a network rollout, where a single partnership can quickly translate into broad availability across e-commerce.

From the consumer perspective, the emphasis is on speed and simplicity—“pay directly from their bank account in seconds,” with “no card details or manual data entry required.” From the market perspective, the emphasis is localization: a “highly localised payment experience” that reflects Finnish preferences, while being “powered by a pan-European network,” as TrueLayer’s Finland country manager Ulf Klavér put it.

Overview of TrueLayer and Stripe Collaboration

The Finland launch sits inside a wider collaboration between TrueLayer and Stripe—one that has already been active in major European markets. Stripe, which is also an investor in TrueLayer, first introduced Pay by Bank powered by TrueLayer to merchants in the UK, France, and Germany in 2025. Finland now becomes the next step in what the companies describe as a shared vision: expanding “seamless, secure, and low-cost bank payments” across Europe.

The division of roles is clear in the announcement. TrueLayer provides the open banking technology that enables bank payments—essentially the connectivity and payment initiation layer that makes “Pay by Bank” possible. Stripe provides the global payments infrastructure that powers the offering, helping translate a bank-payment method into something merchants can adopt through familiar tooling and operational processes.

This matters because Pay by Bank is not just a consumer-facing button. It is also a merchant-facing operational change: a new payment method that needs to be supported, reconciled, and trusted. By embedding the method into Stripe’s infrastructure and distributing it through Kustom Checkout, the collaboration aims to reduce friction for merchants while still delivering a localized experience for shoppers.

The companies are also explicit about the strategic direction: a pan-European approach that still respects local payment norms. TrueLayer’s Ulf Klavér described the goal as enabling “thousands of merchants to offer a faster, safer way to pay—one that’s built for local consumers but powered by a pan-European network.” That phrasing captures the balancing act at the heart of European payments: consumers often prefer local methods, while merchants and platforms want scalable, cross-border infrastructure.

Finland’s launch also reinforces the idea that Pay by Bank is moving from early adoption into broader distribution. The earlier rollout in the UK, France, and Germany established the product in large markets. Finland adds a market characterized—by the companies themselves—as highly ready for bank-based digital payments, potentially strengthening the case for further expansion.

In short, the TrueLayer–Stripe collaboration is being positioned as a way to industrialize Pay by Bank: not as a niche alternative, but as a mainstream checkout option that can be rolled out market by market through established platforms and merchant networks.

Kustom Checkout: The Leading Solution in the Nordics

Kustom is the key distribution partner in this Finland launch, and the announcement leans heavily on its scale and regional positioning. It is described as “the leading checkout solution in the Nordics,” serving more than 24,000 online merchants. That merchant base is the reason the Finland rollout is immediately consequential: it is not limited to a handful of pilot stores, but designed to reach “thousands of Kustom merchants” as the rollout progresses.

The product integration is framed as a practical upgrade to checkout. Through the collaboration, Kustom merchants can offer shoppers “a localised, instant bank payment option at checkout,” enabled by TrueLayer’s open banking technology and Stripe’s payments infrastructure. The emphasis on “localised” is not incidental—Kustom’s value proposition in the Nordics is closely tied to offering payment experiences that match local consumer expectations.

Kustom’s Finland country manager, Mikko Karjanlahti, makes the universality claim explicit: “With Pay by Bank now available to 100% of the Finnish population, businesses can offer a truly universal payment experience.” The statement is ambitious, but it signals what Kustom wants merchants to believe: that bank payments can be offered broadly, not just to a subset of customers.

Karjanlahti also ties payment choice directly to commercial outcomes. “We know how important it is for merchants to offer payment methods that local shoppers know and trust to drive conversion,” he said, adding that “having the right payment options in place can determine whether a customer completes the purchase.” This is a familiar argument in e-commerce—checkout friction and payment mismatch can lead to abandonment—and Kustom is using it to frame Pay by Bank as a conversion lever rather than a technical novelty.

The announcement also suggests that Kustom’s merchants are not just getting “another payment method,” but an option that reflects how Finnish consumers already behave online. The idea is that shoppers get more choice at checkout, and merchants get a payment mix that better matches local norms.

Operationally, Kustom’s role is to make adoption simple. Merchants already using Kustom Checkout can gain access to Pay by Bank through the platform’s rollout, rather than building bespoke integrations. That platform-led approach is what turns a payments innovation into a scalable market shift—especially in a region where local preferences can be strong and where checkout providers often act as gatekeepers for what becomes mainstream.

Launch Timeline for Pay by Bank Payments

The rollout in Finland is described as starting immediately. According to the announcement, “the rollout begins this month and will soon be available to all Kustom merchants.” That timeline suggests a phased deployment—likely starting with an initial group of merchants before expanding across Kustom’s broader base.

The structure of the launch also reflects how modern payment methods typically scale: through platforms and networks rather than one-off merchant integrations. By launching through Kustom Checkout, the companies can move from “available” to “widely adopted” faster than if each merchant had to negotiate, integrate, and test independently.

This Finland expansion also follows a clear sequence in the TrueLayer–Stripe partnership. Stripe first introduced Pay by Bank powered by TrueLayer to merchants in the UK, France, and Germany in 2025. Finland is now positioned as the next step in that expansion path—suggesting a deliberate market-by-market approach rather than a single pan-European switch-on.

The companies’ messaging implies that Finland’s readiness is part of why it is next. TrueLayer points to Finland’s high online banking usage, describing it as “one of the most advanced markets for Pay by Bank adoption in Europe.” In other words, the timeline is not just about product availability; it is about choosing markets where consumer behavior is likely to support adoption.

For merchants, the key timeline detail is practical: Pay by Bank is becoming available through Kustom Checkout starting this month, with broader availability “soon.” For shoppers, the timeline is less explicit, but the implication is that as more Kustom merchants enable the method, consumers will increasingly see Pay by Bank as a standard option at checkout.

The launch also signals momentum in the broader European Pay by Bank narrative. With the UK, France, Germany, and now Finland in scope, the collaboration is building a footprint across different types of markets—large economies and digitally advanced banking environments alike. Finland’s addition is framed not as an isolated announcement, but as part of a continuing rollout intended to bring bank payments to “more European markets.”

Benefits of Pay by Bank for Finnish Consumers

For Finnish consumers, the benefits described in the announcement revolve around speed, simplicity, and a checkout experience aligned with local habits. The core promise is that customers can pay directly from their bank account “in seconds,” without entering card details or manually typing payment information. That matters in a checkout context where every extra step can add friction.

The “Pay by Bank” framing is also designed to be intuitive. Rather than asking consumers to adopt a new wallet or store credentials with a merchant, the method leans on something many Finnish shoppers already use frequently: online banking. TrueLayer explicitly highlights Finland’s high online banking adoption rate, calling it “the perfect environment for Pay by Bank to thrive.” The implication is that consumers are not being asked to change behavior dramatically; they are being offered a payment flow that fits existing trust patterns.

Another consumer-facing benefit is choice. Kustom merchants will be able to offer an “additional, locally preferred way to pay,” giving shoppers more options at checkout. In practice, more choice can mean fewer dead ends—if a shopper prefers not to use a card, or if they simply trust bank payments more, they can still complete the purchase without switching merchants.

The companies also emphasize a “seamless checkout experience.” While the announcement does not detail the exact user journey, the language suggests a streamlined flow: select Pay by Bank, authenticate through the bank, and complete payment quickly. The absence of “manual data entry” is a specific claim that points to reduced typing and fewer opportunities for errors—an everyday but meaningful improvement for consumers.

Security is also part of the positioning, though described at a high level. The shared vision is framed as delivering “seamless, secure, and low-cost bank payments.” For consumers, “secure” is often less about technical architecture and more about confidence: paying through a familiar bank environment rather than sharing card details at multiple online stores.

Finally, the Finland launch is framed as broadly accessible. Kustom’s Mikko Karjanlahti claims that Pay by Bank is “now available to 100% of the Finnish population,” which—if taken at face value—suggests near-universal reach for consumers in Finland. That universality matters because payment methods that only work for a subset of shoppers can create confusion; a method that works broadly can become a default.

In sum, the consumer benefits described are not exotic features. They are practical improvements—faster checkout, fewer steps, no card entry—delivered in a way that aligns with Finland’s strong online banking culture.

The Importance of Local Payment Options

The Finland rollout is built on a simple premise: local payment preferences still shape conversion, even in a global e-commerce environment. Kustom’s messaging is explicit on this point. “We know how important it is for merchants to offer payment methods that local shoppers know and trust to drive conversion,” said Mikko Karjanlahti, adding that “having the right payment options in place can determine whether a customer completes the purchase.”

That argument is central to why Pay by Bank is being introduced through a Nordic checkout provider rather than positioned as a generic, one-size-fits-all method. The announcement repeatedly uses the language of localization: “localised, instant bank payment option,” “highly localised payment experience,” and “built for local consumers.” The goal is not merely to add another payment rail, but to present it in a way that feels native to Finnish shoppers.

Finland’s high online banking usage is the key local factor highlighted. TrueLayer calls it one of the most advanced markets in Europe for Pay by Bank adoption, implying that Finnish consumers are already comfortable with bank-based digital interactions. In that context, offering a bank payment option at checkout is less about educating consumers and more about meeting them where they already are.

Local payment options also matter because they can reduce the psychological distance between shopper and merchant. When a payment method is familiar—something a consumer recognizes and trusts—it can lower hesitation at the final step of a purchase. The announcement does not provide conversion statistics, but it does frame payment choice as a decisive factor in whether a transaction completes.

There is also a strategic dimension for platforms. Kustom positions itself as enabling merchants to provide “a relevant shopping experience regardless of market,” suggesting that localized payment methods are part of how merchants expand or compete across regions. Even within Europe, payment norms can vary significantly; a checkout experience that feels “local” can be a competitive advantage.

TrueLayer’s Ulf Klavér captures the broader ambition: a payment method “built for local consumers but powered by a pan-European network.” That line underscores why localization and scale are not mutually exclusive. The infrastructure can be pan-European, but the presentation—and the method itself—must match local consumer expectations.

In Finland, where online banking adoption is described as exceptionally high, the importance of local payment options becomes even more pronounced. The launch is effectively a bet that bank payments are not just an alternative, but a preferred path for many shoppers—and that merchants who reflect that preference at checkout will be better positioned to win sales.

Impact on Online Merchants in Finland

For online merchants in Finland—particularly those using Kustom Checkout—the immediate impact is access to a new payment method designed to be both local and instant. Through the collaboration, “thousands of Kustom merchants can now offer shoppers a localised, instant bank payment option at checkout,” enabled by TrueLayer and powered by Stripe. The rollout begins this month and is expected to reach all Kustom merchants soon, turning what could have been a niche integration into a broad platform capability.

The commercial rationale is framed around conversion and customer choice. Kustom’s Mikko Karjanlahti emphasizes that offering payment methods local shoppers “know and trust” can drive conversion, and that the right payment options can determine whether a customer completes a purchase. For merchants, that translates into a practical question: does the checkout reflect how customers prefer to pay? In Finland—where online banking usage is described as among the highest in Europe—the answer may increasingly include bank payments.

Merchants also stand to benefit from a smoother checkout flow. The consumer experience described—paying directly from a bank account in seconds, with no card details or manual data entry—can reduce friction at the point of purchase. Less friction can mean fewer abandoned carts, particularly on mobile devices where typing card details is cumbersome. While the announcement does not quantify the effect, it clearly positions Pay by Bank as a “faster” way to pay.

Cost is another part of the broader positioning, though not detailed in merchant pricing terms. The companies describe a shared vision to bring “low-cost bank payments” to more European markets. For merchants, “low-cost” is a compelling promise, but the announcement does not provide fee comparisons or settlement details. Still, the inclusion of “low-cost” in the strategic framing signals that Pay by Bank is being positioned not only as a better user experience, but also as an economically attractive alternative to traditional payment methods.

There is also an operational simplification angle. Because Pay by Bank is delivered through Kustom Checkout and powered by Stripe, merchants can adopt it through existing platform relationships rather than building new payment infrastructure from scratch. That matters for small and mid-sized merchants who may lack the engineering resources to integrate multiple payment methods independently.

Finally, the Finland launch may influence competitive dynamics among merchants. If Pay by Bank becomes a familiar, trusted option across many Finnish checkouts, merchants who do not offer it could appear less aligned with local preferences. Conversely, early adopters within the Kustom ecosystem may be able to market a smoother, more “Finnish-native” checkout experience.

In effect, the merchant impact is not just technical availability. It is the potential reshaping of what “standard checkout” looks like in Finland—driven by platform distribution, local consumer behavior, and the promise of faster, safer, and potentially lower-cost bank payments.

Conclusion: The Future of Payments in Finland

The launch of Pay by Bank in Finland through Kustom Checkout, powered by Stripe and enabled by TrueLayer, is a signal that bank-based payments are moving deeper into mainstream European e-commerce. The announcement frames Finland as an especially fertile market: one with “one of the highest rates of online banking adoption in Europe,” and therefore “the perfect environment for Pay by Bank to thrive,” in the words of TrueLayer’s Finland country manager Ulf Klavér.

What makes this launch consequential is not only the payment method itself, but the distribution model. Kustom is described as the leading checkout solution in the Nordics, serving more than 24,000 online merchants. By embedding Pay by Bank into a checkout platform already used at scale, the companies are effectively turning a product feature into a market-level rollout. The timeline reinforces that ambition: the rollout begins this month and will soon be available to all Kustom merchants.

For consumers, the future implied here is a checkout experience that relies less on cards and more on direct bank payments—fast, seamless, and requiring no manual entry of card details. For merchants, the future is a payment mix that better matches local preferences, potentially improving conversion by offering methods shoppers “know and trust,” as Kustom’s Mikko Karjanlahti put it.

The Finland launch also fits into a broader European arc. Stripe first introduced Pay by Bank powered by TrueLayer to merchants in the UK, France, and Germany in 2025. Finland is now the next step, suggesting a steady expansion strategy across markets where open banking-enabled payments can be positioned as both secure and cost-effective.

None of this guarantees instant transformation. Adoption depends on how quickly merchants enable the method, how prominently it is presented at checkout, and how consumers respond when given the option. But the ingredients are aligned: a market with high online banking usage, a checkout provider with broad merchant reach, and a payments infrastructure partnership designed to scale.

If Pay by Bank succeeds in Finland, it will likely do so for a simple reason: it fits the country’s digital banking reality. The launch is less about introducing a new behavior and more about formalizing an existing one—bringing bank payments into the center of e-commerce checkout, backed by platforms that can make it ubiquitous.

The Future of Payments in Europe: A New Era with Pay by Bank

Understanding the Pay by Bank Concept

Pay by Bank, as presented in this launch, is a checkout payment method that allows customers to pay directly from their bank account. The Finland rollout emphasizes immediacy—payments completed “in seconds”—and reduced friction, with “no card details or manual data entry required.” Rather than relying on card networks, the method leverages bank connectivity enabled by open banking technology.

In the context of e-commerce, the concept is positioned as both familiar and modern. Familiar because it aligns with widespread online banking usage—particularly in Finland, which TrueLayer describes as having one of the highest online banking adoption rates in Europe. Modern because it is delivered through a platformized payments stack: TrueLayer providing open banking capabilities, Stripe powering the payments infrastructure, and Kustom distributing it through its checkout product.

The concept also carries a localization promise. The announcement repeatedly frames Pay by Bank as “localised,” suggesting that while the underlying network may be pan-European, the consumer experience is designed to match local expectations. In practice, that means presenting bank payments as a natural choice for shoppers who already trust their online banking environment.

The Role of Open Banking in Modern Transactions

Open banking is the enabling layer in this story. TrueLayer’s role is described as providing the open banking technology that makes instant bank payments possible. While the announcement does not detail technical mechanics, it is clear about the functional outcome: enabling customers to pay directly from their bank account quickly and seamlessly.

The Finland launch illustrates how open banking is moving beyond account aggregation and into everyday commerce. Here, open banking is not framed as a back-office data tool, but as a consumer-facing payment method—one that can sit alongside cards at checkout and compete on speed and simplicity.

The partnership structure also highlights how open banking capabilities are increasingly being packaged for scale. TrueLayer’s technology is integrated into Stripe’s Pay by Bank offering, which is then delivered to merchants through Kustom Checkout. That layering matters because it reduces the complexity merchants would otherwise face when adopting open banking-based payments directly.

In short, open banking’s role here is to turn bank accounts into a practical payment instrument for online shopping—especially in markets like Finland where online banking is already deeply embedded in consumer behavior.

Benefits for Merchants and Consumers

The benefits described in the announcement are deliberately symmetrical: consumers get a faster, simpler way to pay; merchants get a payment option that can improve checkout relevance and potentially conversion.

For consumers, the headline advantages are speed and ease. The ability to pay “in seconds” directly from a bank account, without entering card details or manually typing information, is positioned as a smoother checkout experience. The broader framing of “seamless” and “secure” bank payments reinforces the trust angle—paying through a bank environment many consumers already rely on.

For merchants, the benefits are framed around choice, localization, and performance. Kustom’s Mikko Karjanlahti explicitly links local payment options to conversion: offering methods shoppers “know and trust” can determine whether a customer completes a purchase. The implication is that Pay by Bank is not just an added feature, but a way to align checkout with local expectations—particularly in Finland.

There is also a strategic benefit for merchants operating across markets: Kustom argues that “with more local payment options available, it is easier for merchants to provide a relevant shopping experience regardless of market.” That suggests Pay by Bank is part of a broader toolkit for localization—helping merchants adapt checkout experiences to different European consumer norms.

Finally, the companies’ shared vision includes “low-cost” bank payments, hinting at potential economic advantages for merchants, even though the announcement does not provide fee details.

Challenges and Considerations for Implementation

The announcement is optimistic, but it also implies practical considerations that merchants and platforms will need to manage—especially during rollout.

First is rollout sequencing. The launch “begins this month” and will “soon be available to all Kustom merchants,” indicating a phased deployment. During such phases, merchant availability can be uneven, and consumer awareness can vary depending on where the method appears first.

Second is checkout presentation and consumer understanding. Even a fast payment method can underperform if it is not clearly explained or positioned in a way that feels trustworthy. The companies address this indirectly by emphasizing localization and consumer preference, but the practical work of making Pay by Bank feel “normal” at checkout will matter.

Third is ecosystem coordination. This launch involves three parties—TrueLayer, Stripe, and Kustom—each with a distinct role. While that structure enables scale, it also means implementation depends on smooth coordination across technology, operations, and merchant support.

Finally, there is the broader consideration of market fit. Finland is described as highly ready due to online banking adoption, which suggests that other markets may require different approaches. The Finland launch is positioned as a strong match; replicating that success elsewhere may depend on local banking habits and consumer trust patterns.

The Impact of Localized Payment Solutions

Localized payment solutions are at the heart of this launch. The announcement repeatedly emphasizes that Pay by Bank in Finland is designed to be “highly localised” and aligned with Finnish consumer preferences. That localization is not only about language or branding; it is about offering payment methods that reflect how people already pay online.

Kustom’s argument is that localization drives conversion. If shoppers see payment options they recognize and trust, they are more likely to complete purchases. This is why Kustom frames the availability of Pay by Bank as a way to provide a “relevant shopping experience regardless of market.”

TrueLayer’s framing adds another layer: localization does not have to come at the expense of scale. Ulf Klavér describes the method as “built for local consumers but powered by a pan-European network.” That is effectively the European payments thesis in one sentence—local experiences delivered through shared infrastructure.

In Finland, where online banking usage is highlighted as exceptionally high, localization may be less about persuading consumers and more about meeting expectations. If bank-based digital interactions are already common, then a bank payment option at checkout can feel like a natural extension of daily financial behavior.

Future Trends in Payment Technologies

The Finland launch points to a broader trend: bank payments becoming a mainstream e-commerce method, distributed through platforms rather than bespoke integrations. Stripe’s earlier introduction of Pay by Bank powered by TrueLayer in the UK, France, and Germany in 2025, followed by Finland, suggests a pattern of incremental European expansion.

Another trend implied here is the convergence of open banking and global payments infrastructure. TrueLayer provides the open banking layer; Stripe provides the global payments platform; Kustom provides the checkout distribution. This “stacked” approach is increasingly how payment innovation reaches merchants at scale.

The messaging also suggests a trend toward instant, low-friction checkout experiences. “In seconds,” “no card details,” and “no manual data entry” are not just product features; they are the direction of travel for consumer expectations. Payment methods that reduce steps and rely on trusted financial institutions may gain ground, especially in digitally mature markets.

Finally, the emphasis on localization indicates that future payment technologies in Europe will likely succeed when they combine two things: a local consumer experience and a scalable, cross-border backbone.

Conclusion: Embracing Change in the Payment Landscape

The Finland launch of Pay by Bank through Kustom Checkout, powered by Stripe and enabled by TrueLayer, is a clear example of how Europe’s payment landscape is evolving. It reflects a shift toward bank-based payments that are instant, seamless, and designed to match local consumer behavior—especially in markets with high online banking adoption.

The collaboration also shows how payment change happens at scale: through platforms that already sit at the center of commerce. With Kustom serving over 24,000 online merchants, the rollout has the potential to make Pay by Bank a familiar checkout option for Finnish shoppers in a relatively short time.

Whether Pay by Bank becomes a dominant method will depend on adoption and habit. But the direction is evident: Europe is moving toward payment experiences that are both localized and networked—built for the way consumers actually pay, and delivered through infrastructure capable of scaling across markets.