SEPA
PAYMENTS SIGNAL · REFERENCE CARDOpen-banking payment initiation
Maya Chen pays at a merchant checkout through Larkpay, a fictional licensed payment institution acting as a payment initiation service provider (PISP). Larkpay asks Bank Alfa to send a SEPA credit transfer to Northstar Bank. (SYNTHETIC / TRAINING ONLY)
Actors
- Maya Chen (payer)customer
- Larkpay (PISP)bank
- Bank Alfa (ASPSP)bank
- Clearing & settlement mechanisminfrastructure
- Northstar Bank (creditor agent)bank
Messages
- Payment-initiation API request
- pacs.008
The sequence
| # | Step | Route | Kind |
|---|---|---|---|
| 1 | Consent — Maya consents at the merchant checkout | Maya Chen → PISP | message |
| 2 | Init API — Larkpay initiates the payment via Bank Alfa's API | PISP → Bank Alfa | message |
| 3 | Apply SCA — Bank Alfa applies strong customer authentication | Bank Alfa | internal |
| 4 | Authenticate — Maya authenticates with her bank | Maya Chen → Bank Alfa | message |
| 5 | DR payer — Bank Alfa validates and debits Maya | Bank Alfa | posting |
| 6 | pacs.008 — Bank Alfa sends a SEPA credit transfer | Bank Alfa → CSM | message |
| 7 | Clear — The CSM clears the transfer | Bank Alfa → Northstar | clearing |
| 8 | Settlement — The transfer settles between the banks | Bank Alfa → Northstar | settlement |
| 9 | CR creditor — Northstar Bank credits the merchant | Northstar | posting |
Exception rails
| Rail | Trigger | Where the money ends up | Next action |
|---|---|---|---|
| Abandoned: SCA not completed | Maya starts the payment but does not finish strong customer authentication — she closes the app or lets the challenge time out. | Never left Maya's account — no debit was booked. · None. No pacs.008 was sent, so no clearing or settlement occurred. | Bank Alfa — Maya retries the bank payment and completes SCA, or pays another way at the checkout. |