13.1.01 What is a payment initiation service (PIS)? | Frequently Asked Questions

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Knowledgebase: 13.1 Payment initiation service (PIS)

13.1.01 What is a payment initiation service (PIS)?
*PIS* (*payment initiation service*) is a payment method when the payer in order to pay for goods or services online authorises the payment service provider to access their bank account via the internet banking where the service provider creates and executes a transfer.