Open Banking · Available
Open Banking (EU, PIS)
Open Banking in the EU lets a payer pay straight from their bank account through the bank's PSD2 interface: a licensed payment initiation provider from the catalogue shows the payer's bank, the payer approves the exact amount in the banking app with strong customer authentication, and the bank sends a SEPA transfer, instant where the bank supports it. There are no card numbers, no chargebacks, and one integration covers banks in six countries.
Key facts
- Currencies
- EUR, PLN
- Operations
- Pay-in · Refund
- Settlement
- instant
- Chargebacks
- not possible
How a payment goes through
- 1The payer picks their bank on the checkout
- 2They approve the exact amount in the bank's app
- 3The licensed provider initiates the transfer over the instant rail
- 4Settlement in seconds; webhook to the merchant; no chargebacks
How a payment goes through
- The checkout shows “Pay by bank” and the banks of the payer’s country in their language.
- The payer picks a bank and approves the amount and payee in the bank’s app with strong customer authentication.
- The bank sends a SEPA transfer, instant where it supports it; the provider reports the status.
- Tranzify writes the result to the payment’s journal and calls the merchant’s webhook.
Open Banking against cards in the EU
| Open Banking (EU) | Cards | |
|---|---|---|
| Legal basis | PSD2 payment initiation, in force since 2018 | scheme rules |
| Settlement | seconds over SEPA Instant; next business day over classic SEPA | T+1 and later |
| Chargebacks | none: the payer authorises the transfer in their own bank | scheme rules |
| Authentication | the bank’s own strong customer authentication | 3-D Secure |
| Payer data to store | none | PAN in a PCI vault |
Payouts and refunds
Refunds go back to the payer’s account through the same provider, in full or in part. Payouts and recurring charges are not part of this method: for payouts in euro the catalogue has SEPA Instant, for subscriptions, cards.
Who uses it
iGaming, forex and crypto on/off-ramps first, where a transfer approved in the payer’s own bank has no chargebacks; e-commerce and SaaS add it as a card-free option.
How to connect
- 1Onboard with Tranzify and get your network, keys and back office.
- 2Enter your account with the provider in the terminal settings — Tranzify already speaks its API.
- 3Add routing rules: countries, currencies, amounts, BIN ranges, priorities and weights.
- 4Go live. Every payment, callback and retry is in the journal for five years.
Providers offering this method
Industries
Terms
Frequently asked questions
Which countries and currencies are covered?+
How fast does the money arrive?+
Who is the licensed party?+
Related methods
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