Nello Pay was created by Neonomics, a leading Nordic open banking provider originating from Oslo, Norway. Our goal is to create intuitive financial products for both businesses and customers. With this in mind, we created Nello Pay: a forward-thinking payment method. Nello Pay incorporates pay by bank -
a faster, safer and easier way to pay, into everyday payment methods. Pay by bank utilises open banking technology to facilitate payments directly from your bank account – without the need to use a card.

What is Open Banking? Open banking allows licensed payment providers, like us, to make direct account-to-account payments from your bank account straight to the merchants’ We work under an EU regulation known as PSD2 that fosters more choice, innovation and enhanced security in payments services.

1. Click the payment button from the business you're paying: When you're ready to complete your purchase, choose the pay by bank option.
2. Select your bank: You’ll see a list of trusted banks—select yours, and you'll be redirected to your bank’s secure authentication page.
3. Complete the payment securely: Select the account you would like to pay from and authorize the payment the same way you normally do a payment such as with a PIN, faceID, BankID or similar . Your payment will go directly from your bank to the business—safe and simple!

When you use the pay by bank method through Nello Pay, there is no need to enter card details or account numbers. Instead, we multi-factor authentication provided through your bank’s own security systems as well as end-to-end data encryption over a secure and dedicated bank API.

If you pay by card using Nello Pay, the payment is processed through Worldline, our card payment service provider, using 3D Secure and tokenization to encrypt your card details.  Whichever way you pay, you can rest assured that your payment is safe and secure.

No. When you pay by bank or card, the transaction fee is paid by the business or merchant you are paying. Pay by bank is a substantially less expensive alternative for businesses, compared to card payments. Card payments are also subject to interest rates and fees that are part of your agreement with your card provider and are outside of this payment process.  As a responsible payment provider, we try to keep the rising cost of card transactions as low as possible for the businesses and merchants that use our services. Offering cost-effective alternatives, like pay by bank, is one of those ways.

Nello AI is a Personal Finance Management app from Neonomics that leverages open banking and generative AI to improve how we budget, save and manage our finances. It will be available to consumers, banks and businesses at the start of 2025.