Overview
Payment Initiation Services (PIS) offers a new way to collect payments directly from end-customer payment accounts. Using PIS, customers can make payments directly from their bank account from within your marketplace or platform. Once you add PIS to your checkout experience, you can use a single API call to initiate a low-cost, region-specific payments experience.
Capabilities
A single API request connects your customer to a hosted payment experience that simply guides them through the process of paying via their chosen banking app or sharing their payment account details for account validation. Subsequently, you can track payments and send corresponding payouts when needed.
- Payment Experience: A payment experience at checkout in which your customers can choose to pay directly from their bank account.
- Closed-loop Refunds and Payouts: Refunds initiated with a single API call.
- Real-Time Payment Statuses: Payment status checks and callback notifications.
What you can build
Payment Experience
A payment experience at checkout in which your customers can choose to pay directly from their bank account.
Refunds
Refunds initiated with a single API call.
Real-Time Payment Status
Payment status checks and callback notifications.
How it works
A single API request connects your customer to a hosted payment experience that guides them through the process of paying through their chosen banking app or sharing their payment account details for account validation. Subsequently, you can track payments and send corresponding payouts when needed.
Availability
PIS is available in the United Kingdom and EU countries including Germany, Italy, Spain, Netherlands, and Austria. The following table details feature availability by region.
| Feature | Description | U.K. | EU |
|---|---|---|---|
| Instant payment initiation | Trigger immediate, one-time bank transfers directly from customer accounts with real-time confirmation. | ✔ | ✔ |
Which version of PIS to use
If you are planning to implement Pay by Bank for the first time, you must use the latest version: V2 for your implementation. This ensures you get access to all new features as they are introduced.
If you are an existing user, continue to follow the documentation and guides for Pay by Bank V1. When you are ready to upgrade to a newer version, our team can support your transition.
How to
Initiate a payment
Send secure payment instructions to transfer funds from customer accounts through their financial institution.
Make a payout
Disburse funds to recipients or beneficiaries by initiating outbound transfers from your account.
Next Steps
Complete the onboarding process to ensure you have the required access and credentials. For more information, see Getting started.