Pay with Bank in 2026: Why IRIS Pay Is No Longer Just a Payment Method

Until recently, direct bank payments were seen as something secondary. A convenient but niche option - just another way for a customer to pay if they didn’t want to, or couldn’t, use a card.

That way of thinking no longer works.

Pay with Bank via IRIS Pay has become a strategic element of the checkout - one that directly affects customer experience, conversion, and the true cost of payments. In the context of open banking and an increasingly mature regulatory environment in the EU, the way money moves from the customer to the merchant is now critical.

At IRIS Pay, we see this shift every day - across both online stores and businesses with physical locations.

From “alternative” to preferred payment method

The biggest change around IRIS Pay/Pay with Bank isn’t just technological - it’s behavioral.

Customers are increasingly choosing it deliberately because it:

• feels more convenient than card payments;

• doesn’t require entering sensitive data;

• uses their familiar mobile or online banking environment;

• creates a sense of directness and control.

Which leads to a simple conclusion:
IRIS Pay shouldn’t just exist at checkout. It needs to be clearly positioned, easy to understand, and thoughtfully integrated.

What does a great IRIS Pay/Pay with Bank experience look like?

When we talk about effective bank-based payments, it’s not just about the transaction succeeding. It’s about the entire journey - from choosing the payment method to deciding to use it again.

The first moment: choice

The customer needs to immediately understand what IRIS Pay/Pay with Bank means at checkout.
When communicated properly, it clearly signals:

• a direct bank transfer;

• no card required;

• no sharing of sensitive data;

• a secure payment through the customer’s own bank.

If this isn’t clear, the button simply goes unused.

The second moment: the payment itself

Once chosen, everything should feel fast and effortless.
The best IRIS Pay implementations:

• redirect customers straight to their mobile banking app;

• minimize the number of steps;

• rely on biometrics or a single confirmation.

The closer the experience feels to “confirm and done”, the higher the conversion.

The third moment: the next payment

The real value appears when customers choose IRIS Pay/Pay with Bank again.
That happens when the first experience was:

• faster than card payments;

• free of declines or limits;

• free of unnecessary friction.

At that point, IRIS Pay stops being an alternative and becomes a habit.

IRIS Pay as a growth engine, not a feature

These three moments reinforce each other.

A strong first experience builds trust.
Trust drives higher conversion.
Higher conversion leads to repeat usage.

This is how IRIS Pay/Pay with Bank starts working as a growth engine, rather than just another payment method in a list.

What does this mean for merchants?

For businesses in Bulgaria and the wider region, IRIS Pay delivers clear, measurable value:

• significantly lower costs compared to card payments;

• direct account-to-account transfers;

• funds received within seconds;

• a better customer experience without data entry;

• coverage across key markets in Southeast Europe.

That makes IRIS Pay/Pay with Bank a logical next step - not just as a cost optimization, but as an upgrade to the entire customer journey.

In 2026, IRIS Pay/Pay with Bank is already the standard

The trend is clear: direct bank payments are now seen as a normal, expected choice. The question is no longer whether to offer them, but whether you’re offering them in a way customers actually choose.

And that’s exactly where IRIS Pay makes the difference.