Best Modulr Alternative for Embedded Payments in the UK [2025 Guide]

Embedded payments are the backbone of modern finance operations in the UK. Whether it’s payroll, supplier disbursements, or instant customer refunds, businesses now expect payments to run invisibly inside their platforms. Modulr is one of the first names many firms encounter because of its direct access to Faster Payments, Bacs, and CHAPS.

But Modulr isn’t the right fit for every team. Some businesses need faster deployment, a UK-only focus without international overhead, or more flexible, usage-based pricing. Others want Pay by Bank APIs and Open Banking features alongside embedded accounts.

If you’re looking for the best Modulr alternative for embedded payments, this guide gives you a clear framework. We’ll cover when to consider alternatives, what features to look for, and which providers in 2025 actually deliver on UK businesses’ needs.

Finexer – Best Modulr Alternative for UK-First Embedded Payments

For mid-sized and scaling UK businesses, Finexer stands out as the strongest Modulr alternative because it focuses purely on UK embedded payments without adding unnecessary global complexity.

Why Finexer is shortlisted as a Modulr alternative in UK

• UK-first infrastructure: Connects instantly with 99% of UK banks for both collections and payouts.
• Embedded payment features: Pay by Bank at checkout, batch payroll and supplier disbursements, instant refunds, QR code payments, and automated receipts.
• Deployment speed: Typically 2–3x faster than the market average thanks to hands-on onboarding support.
• Usage-based pricing: Startup- and mid-market-friendly pricing model, avoiding heavy fixed platform fees.
• White-label APIs: Businesses can embed payment initiation and account connectivity directly into their own workflows under their brand.
• Compliance handled: Built on FCA-authorised infrastructure, removing regulatory headaches for teams.

Who Finexer is best for

• Accounting firms that manage bulk payroll runs and supplier payouts.
• Law, wealth, or insolvency firms needing verified Pay by Bank with audit trails.
• Retail and e-commerce businesses looking for instant refunds and customer-friendly payment links.
• UK-only teams who want faster time-to-market and transparent pricing.

Finexer vs Modulr

Criteria	Finexer	Modulr
Deployment speed	2–3x faster than market	Longer onboarding timelines
UK bank coverage	99% (via Open Banking rails)	Scheme access (FPS, Bacs, CHAPS)
Features	Pay by Bank, batch payments, QR, refunds, white-label	Embedded accounts, Faster Payments, Bacs, CHAPS
Pricing	Usage-based, startup/mid-market friendly	Enterprise-oriented
Focus	UK-only, Open Banking + embedded payments	Infrastructure + direct scheme connectivity

Key takeaway

If you’re a UK business that wants to get live quickly, manage payouts and collections in one API, and avoid overpaying for features you don’t need, Finexer is the best Modulr alternative for embedded payments in 2025.

Token.io

Token.io is one of the most recognised Open Banking providers in Europe, and in the UK it has built a strong reputation for enabling account-to-account (A2A) payments at scale. It powers HSBC’s Open Payments service and is widely adopted by enterprises and platforms that want direct Pay by Bank functionality.

Why businesses consider Token.io instead of Modulr

• Embedded checkout and payouts: Token.io supports A2A payments that cover both sides of the flow, customer collections and business disbursements.
• Enterprise partnerships: Backed by HSBC and other major financial institutions, Token.io gives businesses confidence in compliance and reliability.
• Recurring payments and refunds: Alongside one-off payments, Token.io has expanded support for recurring transactions and instant refunds.

Who it fits best

• Large platforms or enterprises embedding Pay by Bank at checkout.
• Businesses that need bank-backed credibility with their payment flows.
• Firms that prefer API-first deployment without going down the route of scheme access or agency banking.

TrueLayer

TrueLayer is one of the leading Open Banking providers in the UK, widely used for Pay by Bank checkout flows, refunds, and variable recurring payments (VRP). It has built strong traction with merchants, and in 2025 continues to expand its focus on recurring payment models.

Why businesses consider TrueLayer instead of Modulr

• Checkout-ready Pay by Bank: Designed for fast customer-facing payment flows, especially in retail and digital platforms.
• Variable Recurring Payments (VRP): TrueLayer is at the forefront of VRP pilots, making it attractive for subscription-based and high-frequency use cases.
• Merchant adoption: TrueLayer has become a popular Pay by Bank partner for major platforms and payment providers, including Stripe in the UK.

Who it fits best

• E-commerce and SaaS businesses embedding Pay by Bank checkout.
• Subscription services needing recurring payments without card fees.
• Platforms that want fast customer payments but not direct scheme access.

Volt

Volt positions itself as a global Pay by Bank network, bringing together real-time A2A payments across the UK and multiple international markets. While Modulr focuses on UK scheme access and embedded accounts, Volt appeals to businesses that want a single API for multi-market instant transfers.

Why businesses consider Volt instead of Modulr

• Global reach: Supports Pay by Bank across the UK, Europe, and other regions, making it suitable for businesses operating beyond the UK.
• Payouts and refunds: Alongside incoming payments, Volt has built tools for instant refunds and merchant payouts.
• Network effect: Volt markets itself as creating a “real-time global payments network,” linking multiple rails under one API.

Who it fits best

• Marketplaces and platforms needing international Pay by Bank coverage.
• Retailers and fintechs requiring refund and payout automation across countries.
• Businesses prioritising scalability outside the UK rather than a UK-only focus.

Brite Payments

Brite Payments is a newer entrant in the Open Banking payments space, with a strong emphasis on speed and customer experience. While Modulr is infrastructure-heavy with scheme access, Brite positions itself as a merchant-facing Pay by Bank solution that specialises in instant checkouts and real-time refunds.

Why businesses consider Brite instead of Modulr

• Fast consumer payments: Brite focuses on making Pay by Bank checkouts smooth, particularly for retail and e-commerce.
• Instant refunds: A key differentiator is its refund network, which enables customers to receive money back in seconds.
• European expansion: Though active in the UK, Brite also serves multiple European markets, appealing to businesses with cross-border customers.

Who it fits best

• E-commerce platforms that need quick, low-friction checkout flows.
• Retailers and service providers where refunds are a critical part of the customer journey.
• Businesses operating across the UK and Europe, wanting a single Pay by Bank partner.

Final Thoughts

Modulr has earned its place as a trusted embedded payments provider, but it isn’t the right fit for every business. Some teams want faster deployment, others need customer-facing Pay by Bank APIs, and some prefer global coverage instead of a UK-only focus.

For mid-sized UK businesses, Finexer stands out as the best Modulr alternative in 2025. With coverage of 99% of UK banks, support for Pay by Bank, batch payouts, instant refunds, QR code payments, and white-label APIs, Finexer combines everything firms need to run embedded payments without the complexity or cost of scheme membership.

If your priority is to move quickly, reduce costs, and deliver a better experience for clients and customers, Finexer is the practical choice for embedded payments in the UK market today.