Banked review: pay by bank and PayTo (2026)

Banked is an account-to-account (A2A) payments company that lets merchants offer a "Pay by Bank" option at checkout, where the shopper approves a payment inside their own banking app instead of entering card details. On 3 November 2026 the company's main domain, banked.com, redirected to paybyb.com, a site for its Pay by B checkout built on Australia's PayTo network.

This is a shorter profile than most on Payments30. Banked's older marketing and developer pages now redirect, and several sources we would normally rely on were not readable on the date of writing, so the page sticks to what could be opened and says plainly what is missing.

At a glance

What changed on the website

Requests to several banked.com addresses, including the home page, the article archive, the content hub and the older developer pages, returned a redirect to paybyb.com on 3 November 2026. We did not find an explanation on the destination site, so this page does not infer one. Readers who rely on older Banked guides or documentation should check whether those pages still apply.

The paybyb.com page presents the service under the name Pay by B, with the browser title "Pay by Bank". It says Waave Technologies Pty Ltd is the technology services provider and administrator of the service and that the service is not available in all markets. It links to developer documentation at developer.banked.com, which we could not open. A brand-guidelines page on the same domain refers to consistency across Banked interfaces and uses a banked.com contact address. The page does not describe ownership or the relationship between Banked and Waave.

How the platform works

Banked's checkout is built around account-to-account payments. A shopper chooses Pay by Bank, selects their bank, and authorises the payment in their banking app. On the Australian version, paybyb.com says the customer uses their PayID and approves by notification, text message or email through the bank. The page describes both online and in-store use.

The company's interactive demo shows a sample store with two options: card (Visa and Mastercard) and "Pay by Bank", described as paying directly from the bank using PayTo. The flow selector in the demo is set to a single payment, and the demo lets a user simulate outcomes. The demo does not list banks or regions.

Banked's own pages describe PayTo as the bank-based payment method behind the Australian service. For wider context on instant account-based payments, see our guides to real-time payments and open banking payments.

Products

The Shopify listing says merchants can accept PayTo bank payments in Australia, with bank authentication, real-time payment initiation and no card surcharging at checkout. It states the app can read store owner details and edit payment gateways and payment sessions.

Developer experience and integrations

We could not open Banked's developer documentation, so we cannot describe its endpoints, SDKs, sandbox or webhook model. What the company does publish publicly is a checkout demo and the Shopify app. The demo is the only hands-on environment we reached. Developers evaluating Banked should open developer.banked.com directly and confirm the current API version and integration options.

Payment methods, currencies and coverage

The company's status page, checked on 3 November 2026, lists separate API and Checkout components for a global service and for Australian, EU and UK payments. That indicates the service is organised by region, but the status page does not say which payment methods or banks sit behind each region. Prices on the Shopify listing and the PayTo references relate to Australia only.

Pricing model

The only published prices we found are on the Shopify listing for the Australian app, checked 3 November 2026: free to install, with usage charged at 28 cents plus 0.50 per cent per transaction, in Australian dollars. The listing also says charges are billed in US dollars, which does not match the Australian dollar fee, so confirm the billing currency with the company before relying on it. The listing adds that external charges may be billed separately from the Shopify invoice. Pricing for the UK and EU components is not published on the company website as of 3 November 2026.

Recent launches

No dated product launches could be verified from Banked's own pages on 3 November 2026. The Shopify listing date of 20 September 2023 is the only dated product milestone we opened. The company's older news articles were not readable because of the redirect. Our Token.io profile and Yapily profile show how comparable providers publish dated release notes.

Regulation in brief

We did not find a regulatory or licensing statement on the pages we could open, and Banked's older legal pages redirected. Not published on the pages reviewed as of 3 November 2026. Readers can check any UK firm on the FCA register, and our guide on how to check a financial licence explains how to read an entry.

Who it tends to suit

Based only on what is published, Banked's Australian Pay by B and the Shopify app are aimed at merchants that want to add PayTo-based bank payments next to cards, and at platforms that embed A2A payments through an API. Businesses focused on the UK and Europe often compare infrastructure providers such as Token.io, Yapily and TrueLayer, or merchant-facing options such as Trustly. Because Banked's documentation was not reachable, anyone shortlisting it should ask the company for current API documentation, supported markets and a written fee schedule. The open banking hub lists related profiles.