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Payment accounts

Once a payment account is opened, it is reachable for inbound and outbound SCT (SEPA Credit Transfer). It can also be debited in line with the SDD (SEPA Direct Debit) scheme.

Payment initiation​

There are two ways to integrate payment initiation into your application:

  1. The payer authenticates individual transactions online.
  2. Payment instructions are submitted in batch.

1. Online payment initiation​

Online payment initiation requires the account holder (or a designated authorized person = mandatary) to authorize the payment instruction online, either through a web page or a mobile interface. This practice aligns with EU SCA regulation and is similar to the online authorization processes used by other banks.

To integrate this online flow, you will initiate a payment request, using the Banqup-issued payment account as the debtor account. The user will then be redirected to an online authorization page, where they will authenticate and confirm the payment using their BanqupID.

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2. Batch payment initiation​

Some applications prioritize backend automation over online user interaction.
For instance, marketplaces often handle financial transactions that occur between systems. To facilitate this, Banqup provides OpenFinance endpoints that use host-to-host credentials to process payment instructions in batches, without requiring manual intervention.

Payment identification​

Payment accounts

Every payment account is associated with a unique UUID that is stored in the Banqup database. The UUID is generated when a new payment account is added in the system and is necessary when performing payment and card related API calls.

To retrieve the payment account IDs of a space owner, call GET/spaces/spaceId/payment-accounts, providing the spaceId.

To retrieve the payment account IDs of a space connection, call spaces/spaceId/connections/connectionId/paymentAccounts, providing the spaceId and the connectionId.


End to end payment identification

The 'end to end' payment ID is a unique identifier assigned to a payment transaction that allows it to be tracked from its initiation to its completion across all the systems and parties involved. This ID can be used later for reconciliation purposes. It is different from the payment ID which is generated after the payment has been processed by the Unifiedpost Payments PSD2 service platform.

To retrieve the end to end ID, call GET/spaces/spaceId/payments/paymentId/paymentTransactions, providing the spaceId and paymentId.

Account details​

It is possible for applications to learn about the status and details of the managed accounts:

  • current available balance
  • transactions booked
  • reservations created
  • SDD or SCT instructions planned for future execution

Card issuing​

Using a Banqup debit card is another method to initiate payments on a Banqup payment account.

Once a payment account is set up, you can issue:

  • virtual cards, available for immediate use.
  • physical cards, mailed to the cardholder.

Check out the Banqup APIs to manage card-related actions.

See also​