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Presentation

With the implementation of the second European Payment Services Directive (PSD2), banks were required to open their information systems. This has allowed new stakeholders and services to appear.

One of them was payment initiation, also called transfer initiation.

This payment service allows the merchant to initiate a credit transfer request sent to the buyer’s bank.

The merchant is prompted to validate the transaction via their online banking space.

The funds are then transferred via a classic SEPA Credit Transfer.

Advantages for the merchant:
  • Increased payment security: no risk of chargeback
  • Irrevocability
  • Higher limit than for the card (larger cart amount)

Advantages for the buyer:
  • Fast payment
  • Easy to use with choice of bank and account
  • European payment method
  • 100% electronic payment method (web and mobile compatible)

Supported currencies
  • EUR
Supported countries
  • France
    
  • Germany
  • Austria
  • Belgium
  • Bulgaria
  • Bulgaria
  • Spain
  • Hungary
  • Ireland
  • Italy
  • Luxembourg
  • The Netherlands
  • Portugal
  • Czech republic
  • Romania
  • Slovakia
  • Slovenia

Details

information
  • Transaction validation is automatic (no manual validation).
  • The field vads_capture_delay must be populated with 0.
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