User flow for banking onramp

SEPA stands for the Single Euro Payments Area. It is an initiative of the European Union to create a unified system for electronic euro payments within Europe.

The Faster Payments Service (FPS) is a United Kingdom banking initiative to reduce payment times between different banks' customer accounts to typically a few seconds, from the three working days that transfers usually take using the long-established BACS system

Selecting Currency

If you have enabled the EUR or GBP payment option in your settings, your customers will have the ability to choose this option during the checkout process. The following walkthrough provides a step-by-step guide for customers to follow before finalising their payment.

Upon redirection to our checkout page, your customers will find the displayed payment options. EUR (SEPA) transfer is shown here as one of the payment options for an invoice.

Personal Details

If the customer is making this type of payment for the first time, we will need to request additional information for the destination bank account. Specifically, we'll ask for their first name, last name, email address, and country.

These details will be requested only once when the customer initiates their first deposit.

Identity Verification

If this is the customer's second transaction or if the invoice amount exceeds 700 EUR/GBP, we are obligated to conduct a KYC (Know Your Customer) check. This verification process can be completed either through the Checkout page or via a preliminary verification endpoint.

For KYC conducted via the Checkout, we will request the customer's document for identity verification. The Checkout page will prompt the customer to provide their address, date of birth, and details regarding the source of funds.

Following the submission of these details, we will proceed to request the customer's identity document.

Bank Account Details

After successful verification, or automatically for returning customers who have previously completed the process, the destination bank details will be displayed.

• For SEPA payments:

  • IBAN: International Bank Account Number to which the customer should deposit funds.

  • BIC: Business Identifier Code for the bank.

• For Faster Payments System:

  • Account Number: the number that is tied to your bank account.

  • Sort Code: used to identify a particular UK bank and branch.

• Time remaining: invoice expiration timer.

• Min deposit: minimal amount to process a deposit transaction.

• Pay amount: the amount your customers have to pay in the selected currency.

Once the customer completes a payment, the invoice will automatically be marked as completed and we'll notify you with a callback.