A payment initiation service (PIS) is an online functionality which accesses a user’s payment account to initiate the transfer of funds on their behalf with the user’s consent and authentication. Payment initiation services provide an alternative to paying online using a credit card or debit card. Payment initiation service providers (PISPs) will receive access to payment accounts, whilst also placing requirements on them to ensure security for users.

Whilst secure, please note that PIS transactions are bank transfers that do not offer the same protection measures (such as chargebacks) as debit/credit cards.

Account Information Service (AIS) is an online service which provides consolidated information on payment accounts held by a payment service user with payment service providers. Account Information Service Providers (AISPs) can receive access to payment accounts, whilst also placing requirements on them to ensure security for users.

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