PISP
Service ProvidersPayment Initiation Services Provider
Definition
A Payment Initiation Services Provider provides an online service to initiate a payment order at the request of the payment service user with respect to a payment account held at another payment service provider. PISPs enable account-to-account payments without using traditional card networks.
Related Terms
AISP
Account Information Service ProviderAn Account Information Service Provider provides account information services as an online service t...
ASPSP
Account Servicing Payment Service ProviderAccount Servicing Payment Service Providers provide and maintain payment accounts for payers as defi...
TPP
Third Party ProviderThird Party Providers are organisations or natural persons that use APIs developed to Standards to a...
PIS
Payment Initiation ServicesPayment Initiation Services are services that allow a third-party provider to initiate payments from...
Frequently Asked Questions
What is Payment Initiation Services Provider?
A Payment Initiation Services Provider provides an online service to initiate a payment order at the request of the payment service user with respect to a payment account held at another payment service provider. PISPs enable account-to-account payments without using traditional card networks.
What does PISP stand for in Open Banking?
PISP stands for Payment Initiation Services Provider. It is a fundamental concept in Open Banking and PSD2 regulations. A Payment Initiation Services Provider provides an online service to initiate a payment order at the request of the payment service user with respect to a payment account held at another payment service provider. PISPs enable account-to-account payments without using traditional card networks.
How do I work with a PISP?
To work with Payment Initiation Services Provider services, you typically need to integrate with their APIs or use an API aggregator that provides PISP capabilities. Many aggregators in our directory offer PISP services with unified APIs across multiple banks.
More Service Providers Terms
AISP
Account Information Service ProviderAn Account Information Service Provider provides account information services as an online service t...
ASPSP
Account Servicing Payment Service ProviderAccount Servicing Payment Service Providers provide and maintain payment accounts for payers as defi...
API Provider
An API provider is a service provider implementing an Open Data API. An API provider provides Open D...
API User
An API User is any person or organisation who develops web or mobile apps which access data from an ...
CBPII
Card Based Payment Instrument IssuerA Card Based Payment Instrument Issuer is a payment services provider that issues card-based payment...
Mandatory ASPSP
Mandatory Account Servicing Payment Service ProviderMandatory Account Servicing Payment Service Providers are entities that are required by the CMA Orde...
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