Online payments in Ireland default to debit cards and digital wallets; the market is not one where a bank transfer scheme is dominant, as BLIK is in Poland or iDEAL is in the Netherlands. Instead, eurozone-wide SEPA credit transfers and PSD2 open-banking-based account-to-account (A2A) payments sit as standard infrastructure, serving as a complementary route for high-value transactions or purchases that exceed card limits.

For merchants selling high-ticket items such as furniture or appliances, handling B2B-style transactions, or looking to reduce card acquiring costs, there is real value in offering a bank transfer option alongside cards. Given Ireland's position as a tech hub, its consumer base is well accustomed to online banking and fintech apps, so there is little resistance to transfer-based payments either.

When a consumer chooses bank transfer as the payment method, they instruct the transfer from their bank's online banking (or an open-banking connection screen) and approve it via bank app authentication. The order is confirmed only once the deposit is confirmed, so order-processing logic must account for this not being an instant-approval method like cards. The euros (EUR) received are collected by Hecto Financial, converted, and settled to the Korean merchant in the contracted currency.

SEPA transfers are a universal route reaching every bank account in Ireland, so acceptance can be considered through Hecto Financial integration without a separate local bank contract. Confirmation methods and processing times vary by integration type, so a technical review should come first.

• Country of business registration

  Confirm whether a contract is available for businesses registered in Korea

• Sales channels

  Integration method and priority differ depending on your mix of online channels, such as your own storefront, marketplaces, and mobile apps

• Product categories

  Check in advance whether your category falls under restricted industries under the Bank transfer operator's merchant policy

• EU regulatory compliance

  Confirm compliance with EU payment regulations such as PSD2 and SEPA (see official sources below)

The first step in settlement is Hecto Financial receiving the euro (EUR) proceeds from the bank transfer locally. After conversion, funds are paid to the Korean merchant in one of USD, KRW, or JPY as specified in the contract, on a cycle set by the contract terms. Unlike cards, transfer payments have no chargeback system, so refunds must be handled by the merchant through a separate remittance — plan your return and refund operating procedures at the contract stage.

• Central Bank of IrelandOfficial information on Ireland's payment systems and related regulations. If this page's content differs from actual regulations, the official source takes precedence.