Lolly and Lloyds Launched Pay by Bank System at Open Banking Expo

Innovative new payment concept brings instant bank-to-bank transactions to self-service kiosks.

Lolly, the UK-based hospitality specialist, has collaborated with Lloyds to develop an innovative Pay by Bank system, which was nominated for an award and showcased at the Open Banking Expo in London.

The new concept enables customers to make direct, secure bank-to-bank payments from a self-service kiosk, removing the need for card transactions and delivering instant payment settlement for businesses. It represents one of the first applications of Pay by Bank within a self-service hospitality environment, combining speed, security, and convenience for users.

Initially trialled within Lloyds’ head office, the system provides immediate payment visibility and reconciliation for merchants, while giving customers a fast, intuitive way to pay.

Developed in collaboration with Lloyds and the leading hospitality business CH&CO, exhibitors could experience a live demo and see the system in action, as it allowed users to select ‘Pay by Bank’ at checkout, scan a QR code, and complete payment seamlessly through their mobile banking app. Funds are transferred directly to the retailer’s account in real time, offering faster transactions and reduced processing fees compared to traditional payment methods.

Our Head of Software Development, Chris Brown, was joined at the event’s Live Lounge by Lloyds Product Manager, Simon Inskip, to discuss Pay by Bank and the benefits for the hospitality industry.

Commenting on the expo, Chris said: “It was a fantastic experience being interviewed at the Open Banking Expo about our collaborative project with Lloyds. Seeing our solution showcased on their stand was a proud moment- it really highlighted the strength of our partnership and the innovation we’re bringing to the payments space.”

Peter Moore, Lolly CEO and Founder, added:

“Lloyds Banking Group approached us directly, through our mutual partner CH&CO, to deliver an exciting project. With the goal to integrate an Open Banking payment solution through our hospitality self-serve kiosk ecosystem, it was a natural path for us to add to our continued innovation in the payment sector. Open Banking is at the embryonic state of its evolution, and we are very excited to be working with Lloyds at the start of this journey.

“Lloyds have been an excellent partner, sharing the Lolly vision of speed and commercial value and bringing a project like this to market in a short period of time.”