finAPI credit card verification

The finAPI credit card verification service for confirming credit card data using Open Banking offers a secure way to verify users’ credit card data. This service is aimed at providers in strictly regulated sectors such as online gambling , which is subject to strict anti-money laundering (AML) requirements .

By integrating the finAPI solution, credit card verification can be performed directly in the user’s online banking system . Verification is performed using the IBAN , which serves as an authentication element . After entering the IBAN, the user is redirected to online banking to authenticate the credit card . Feedback is provided in real time and transparently informs the provider about the result of the authentication.

This solution eliminates the €25 credit card deposit limit per transaction and the €100 monthly limit . This fulfills regulatory requirements under the Money Laundering Act (GwG) and significantly improves user processes .

Use cases :

• One-time and recurring deposits : Users can authenticate credit cards for a one-time deposit without storing data, or use authentication for recurring payments.
• Long-term authentication : Permanent authentication reduces the effort required for future transactions.
• Recurring payments : Subscriptions or regular payments are easy to set up.

Advantages:

• Real-time feedback for verification
• Elimination of the 100 euro limit per month
• Seamless integration into existing payment systems
• Maximum security through Open Banking

With the finAPI credit card verification, gambling providers make the payment process efficient, compliant and secure.