SorterPay · Market Infrastructure
European Payments: Open Banking, SEPA & Cards
Evaluate Open Banking, SEPA and card infrastructure for European payment flows.
Open BankingWith customer consent, an authorized provider connects to a bank to initiate an account-to-account payment or access permitted account information. The customer authenticates with their bank and funds move through a supported bank rail.→SEPAThe Single Euro Payments Area standardizes euro payments between participating accounts. A SEPA Credit Transfer sends euros using the beneficiary’s IBAN; processing follows the bank’s applicable schedule.→SEPA InstantAn instant euro credit-transfer scheme for participating banks. Eligible transfers are processed around the clock within seconds, subject to the bank, checks and service availability.→Banking RailsThe networks and bank infrastructure that move money between accounts. A payment instruction is validated, cleared and settled under the selected rail’s currency, operating hours and rules.→Credit / Debit CardsTraditional credit and debit card processing: checkout sends card authorization through a gateway, processor and acquiring bank to the issuer. Approved payments are captured and settled to the merchant. Refunds, disputes and chargebacks remain part of this model.→Credit / Debit Cards OnRampA card-funded on-ramp lets a customer purchase crypto for a payment; an off-ramp converts crypto back into supported fiat and pays it out through an eligible provider channel. Card payouts depend on provider support. Crypto transfers generally do not use card chargebacks, but the original card purchase can still be disputed: chargeback exposure depends on the provider, fraud controls and contract, and is not guaranteed to be near zero.→Crypto Cross RampBidirectional crypto payment flows: customers can deposit or pay in supported crypto, and businesses can pay customers or counterparties in crypto. On-ramp converts fiat into crypto; off-ramp converts crypto into fiat when needed. Wallet address, network, asset, fees and confirmations must match.→
Highlighted rail / methodOpen Banking / SEPA
Design the complete flow
The local method is only one layer. Gateway/PSP, acquiring where applicable, routing, reconciliation, settlement and operational continuity also matter.
Customer→Open Banking / SEPA→PSP / Gateway→Settlement
Architecture questions
Who can onboard this merchant?Which methods does the customer need?Which settlement currency does the operation need?Is there real redundancy?How is the flow reconciled?What changes by industry?