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AgoraPay offers the Payment Initiation as a payment method, by acting as a PISP (Payment Initiation Service Provider). It allows to initiate a payment directly from the customers’ bank account, at their request, in the form of a bank transfer.

Check the Payment Initiation section on our website to learn about its benefits.

There are 2 types of Payment Initiation flows depending on whether the user knows his/her IBAN before starting the payment journey.

In this section we will cover the following scenarios:

• Successful IBAN transaction
• Successful bank selection transaction
• Payment method rejected

AgoraPay will inform the Marketplace on the payment outcome processed on the customer's bank, both for success and/or failure scenarios.

The main steps of a payment initiation flow with a successful transaction are:

1. The buyer validates his cart on the Marketplace website
2. The buyer selects Payment Initiation as a payment method on the marketplace
3. The buyer inserts his IBAN
4. AgoraPay verifies the payment method eligibility
5. The buyer is redirected to his bank to finalize the transaction
6. When transaction is completed, AgoraPay informs the buyer that the transaction is completed
7. The Marketplace collects the fund.
   
   

*In the following schema, Payment Initiation will be named PISP

Check out the webhook section for details about the events the Marketplace will be receiving from the AgoraPay platform.

The main steps of a payment initiation successful transaction using the buyer's bank include:

1. The buyer validates his cart on the Marketplace website
2. AgoraPay sends a personalized URL to the Marketplace
3. The buyer selects Payment Initiation as a payment method on the marketplace
4. The buyer selects "bank" as a payment method
5. Banks can offer various types of payment methods (classic transfer or instant transfer), the buyer must indicate which method he wants to use for the transaction
6. The buyer selects his bank and is redirected to it
7. When transaction is completed, AgoraPay updates the transaction status and informs the buyer that transaction is completed
8. The Marketplace collects the funds

*In the following schema, Payment Initiation will be named PISP

Depending on the buyer's bank, two transfer methods are possible:

• The classic SCT transfer
• The Instant transfer.
  

This choice, is proposed to the buyer, before the confirmation page and switching to its bank.

Check out the webhook section for details about the events the Marketplace will be receiving from the AgoraPay platform.

The process when the payment method is rejected by AgoraPay while processing its eligibility:

1. The buyer selects Payment Initiation as a payment method on the marketplace
2. The buyer inserts his IBAN
3. AgoraPay verifies the payment method eligibility
4. The payment is rejected
5. The transaction status is updated upon notification from Payment Initiation provider

*In the following schema, Payment Initiation will be named PISP

Check out the webhook section for details about the events the Marketplace will be receiving from the AgoraPay platform.

The Bank simulator, available through AgoraPay offers various actions on an attempt to pay by online transfer. Find below the available statuses for your payment:

• SUMBITTED
• AUTHORIZED
• EXECUTED
• AUTHORIZED then EXECUTED
• REJECTED
• FAILED
• EXPIRED
• AUTHORIZED then REJECTED

As a reminder, it is not the immediate response made to the buyer that modifies the transaction status and the associated operation but the notifications generated by the Payment Initiation provider upon observation of a change in the statuses internally of its system.