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C
CashlessTechnologyPayments · Fintech · Future Commerce
Flow simulator · Open Banking / VRP

Open banking payment

Follow a consented, API-initiated account-to-account payment from merchant to bank.

Step 1 of 50 ms
Merchant

Offers pay-by-bank at checkout

User selects pay-by-bank; merchant calls the TPP / PISP to start payment initiation.

Show all steps
  1. 1. Merchant · 0 ms
    Offers pay-by-bank at checkout

    User selects pay-by-bank; merchant calls the TPP / PISP to start payment initiation.

  2. 2. TPP / PISP · + ~300 ms
    Builds and signs the payment intent

    Constructs the payment payload and redirects (or app-to-apps) the user to their bank for consent.

  3. 3. Payer's bank · + 5–15 s
    Authenticates and consents

    Performs strong customer authentication and records explicit consent for the payment.

  4. 4. Payer's bank · + ~1 s
    Initiates underlying credit transfer

    Sends the funds, typically over an instant rail or domestic faster payments scheme.

  5. 5. Merchant · Total: a few seconds
    Receives confirmation

    Merchant or PSP receives webhook confirmation of credit and releases the order.

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