Verizon and Trustly Bring “Pay by Bank” to Retail Stores, Aiming to Cut Costs and Boost Customer Experience

In a groundbreaking move, Verizon has expanded its partnership with Trustly to introduce “Pay by Bank” options at its brick-and-mortar retail locations. This strategic initiative allows customers to use their bank accounts directly for in-store purchases, including phones, accessories, and upgrades — all while simplifying enrollment in autopay and unlocking valuable discounts.

At the heart of this initiative is Verizon’s goal to reduce the high costs associated with traditional card payments. By shifting more transactions to the Automated Clearing House (ACH) system through Pay by Bank, Verizon aims to streamline payments and reduce fees. The in-store rollout enhances the customer experience by enabling users to set up direct bank payments and enroll in autopay in a single, frictionless transaction — a task that previously required follow-up actions online or through the Verizon app.

Verizon has long offered customers the option to pay bills via bank account, particularly through Trustly’s secure, Open Banking platform. Now, by extending that capability into physical stores, the telecom giant is taking a natural next step in its digital payment evolution. This expansion reflects a broader industry trend: PYMNTS Intelligence research shows that consumer interest in Pay by Bank jumps by 72% when paired with incentives like discounts or cashback. The appeal is particularly strong among Gen Z and millennial customers, who value budgeting tools and streamlined experiences.

Kerrie Larpenter, Director of Enterprise Customer Success at Trustly, emphasized the importance of bringing secure Open Banking solutions into familiar environments like retail stores. “Many consumers already use Open Banking without realizing it,” Larpenter explained. “Adding Pay by Bank in a trusted, in-person setting builds awareness and confidence.”

Attie Muse, Senior Director of Payment Strategy and Operations at Verizon, highlighted that the change meets customers where they already are — in-store for device purchases — while improving their ability to access financial incentives in real time. “Previously, enrolling in autopay with a bank account wasn’t easy during a retail transaction,” Muse noted. “Now, customers can link their bank account and enroll in autopay right at the point of sale, all on their own device.”

The Trustly widget used during checkout eliminates the need to manually enter banking credentials, helping reduce friction and making ACH payments more appealing. Muse added that the integration aligns with Verizon’s long-term goal of expanding Pay by Bank options to e-commerce and in-store shopping alike.

From Trustly’s perspective, the collaboration showcases how retailers can drive customer behavior shifts through well-designed experiences and clear incentives. “Verizon is setting the standard for how to implement Pay by Bank in retail,” Larpenter said. “It’s a blueprint for others.”

As payment preferences evolve, Verizon’s push into in-store Pay by Bank may signal broader adoption across retail sectors — delivering lower costs for merchants and greater control and savings for consumers.

By Payments Roundup Staff

Learn more about Trustly on their website or contact their team directly through email.

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