Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.
return to all methods
Pay by Bank (LU)
Banks in Luxembourg are required to provide third-party providers (TPPs) access to customer data through standardized APIs (Application Programming Interfaces). The Commission de Surveillance du Secteur Financier (CSSF), Luxembourg's financial regulator, is responsible for overseeing the open banking framework.
Method
Pay by Bank (LU)
LPM Market Share
n/a
Payments
Yes
Refunds
Yes - full refunds only
Type
Bank Transfer
Local Card Scheme
Users
n/a
Disbursements
No
No
Chargebacks
$25.00
Authorization currency
EUR
Authorization
speed
speed
Instant
Recurring
No
No
Reasons for Popularity
High usage of online banking Luxembourg boasts high usage rates of online banking services and digital payments In 2023, over 70% of the population used the Internet for banking services
Customer Empowerment Open banking enables customers to easily switch between accounts, manage investments, and find the best offers
