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Payment Initiation Service (PIS)

An Open Banking service that lets a Third-Party Provider initiate a payment from a user's account. The Payment Initiation Service (PIS) requires the user to grant consent for each payment.

Supported payment types​

  • SEPA Credit Transfers (regular and instant).
  • Bulk payments.

Unsupported payment types​

  • Standing orders and recurring payments.
  • International Credit Transfers.

PIS flow​

The diagram below shows the full PIS sequence, from the moment the user initiates a payment in their software application to the final confirmation message.

References​