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Pay by Bank (LU)
Pay by Bank in Luxembourg enables consumers and businesses to make payments directly from bank accounts using local banking infrastructure. It is suitable for invoices, e-commerce, services and B2B payments. For international businesses, Pay by Bank provides a secure local payment flow in one of Europe’s most finance-oriented markets. 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
No
Authorization currency
EUR
Authorization
speed
speed
Instant
Recurring
No
No
