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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