The industry-leading payment initiation service

Phone Image Open Banking

Payment Initiation Service (PIS) account-to-account payments are a type of credit transfer. They’re a simple and seamless way to facilitate payments directly from a customer's account to a client's account.  

What is Payment Initiation?

Payment Initiation allows a business to request a payment directly from a customer’s bank account, with the customer’s consent. The organisation sends the payment request through Open Banking, and the customer is redirected to their online or mobile banking platform to authorise it. Once approved, the payment is processed account to account in real time, without the need for card networks or third-party processors.

How it works

1. The customer selects ‘Pay by bank’ as their payment method.

2. They choose their bank from a list and are securely redirected.

3.They log in to their banks secure online portal and approve the payment.

4. Funds are transferred and confirmed in seconds. Settlement happens within two hours.

This process is protected by Strong Customer Authentication (SCA), which ensures that payments are safe and compliant.

Benefits of having PayPoint as your Payment Initiation Service Provider (PISP)

With us as your Payment Initiation Service Provider (PISP), you gain access to a cheaper, simpler and more efficient alternative to traditional card payments. Payment Initiation Services (PIS) allow payments directly from your customers’ bank accounts with their explicit consent, removing the need for card networks or manual transfers. This creates a faster and smoother payment experience for both your business and your customers.

Partnering with PayPoint means benefiting from:

Reduced costs

Benefit from lower transaction fees compared to traditional card payments.

Increased efficiency

PIS payments are typically processed and settled in real-time, so you receive funds within two hours.

Improved customer experience

Streamline the process for your customers by embedding these payments into your payment journeys.

Added security

Strong authentication helps to protect all parties from fraud.

Greater simplicity

With payments initiated directly from a customer’s bank account, there’s no need to enter credit card or debit card details.

Use cases across industries

A payment initiation service can be used in many sectors to replace card payments, bank transfers or cash collection.

These examples show just some of the ways payment initiation can be applied. The model is flexible and can support organisations in many different sectors.

Retail and eCommerce

Allowing customers check out securely without entering card data.

Financial services

Enable account top-ups, loan repayments or investments.

Utilities and telecoms

Making it easier for customers to pay their bills.

Insurance

Collect monthly or annual premiums in a streamlined way.

Travel and ticketing

Offer instant booking with confirmed payment.

B2B services

Offer simplified invoice payments with direct settlement.

Is payment initiation right for your business?

 

If your business processes large payment volumes, manages time-sensitive cash flow, or aims to modernise its payment system, Payment Initiation offers a cost-effective and secure solution. It simplifies payments, strengthens security, and improves customer experience, while reducing costs compared to traditional card payments.

Getting started is straightforward, with several integration options designed to fit your existing systems and technical resources. You can choose from:

  • API-first solutions with detailed developer documentation
  • Branded or white-label payment interfaces
  • Dashboard tools that simplify monitoring, reporting and reconciliation
  • Low-code and plug-in options for fast deployment

Our service integrates easily with portals, CRMs, or ERP systems, and typical integration times are short. This flexibility helps your business adopt Payment Initiation quickly without disrupting operations.

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FAQs

Is this secure for my customers?

Yes. All transactions use Strong Customer Authentication and are handled by the customer’s bank. No card details are shared or stored.

How fast are the payments?

Authorisation happens in real time. Funds are usually settled instantly, but can take up to two hours.

Can this replace card payments?

Yes, especially where businesses want to reduce costs or offer a simpler payment method.

Does my business need a developer team?

Not necessarily. We offer low-code options and ready-made integrations to help you get started.

Is this regulated?

Yes. Payment Initiation is regulated under the Payment Services Regulations 2017 (PSRs 2017) and is part of the Open Banking framework. We are an authorised Payment Initiation Service Provider (PISP).

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Client/Supplier Sales Enquiry

Are you a current PayPoint client?*
Yes
No
First Name*
Last Name*
Job Title*
Phone Number*
Company Name*
Company Postcode*

We will contact you about your request and about services we provide to you or you provide to us. We will not sell your details to third parties for marketing purposes. Please see our Privacy Statement for more information on how we use your personal data.

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