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Payment Initiation Service Provider (PISP)

Payment Initiation Service Provider (PISP) is a financial institution that facilitates online payments without any need for a credit or debit card. Unlike Account Information Service Providers (AISPs), Payment Initiation Service Providers (PISPs) have “read-write” access to financial data. This allows PISPs to send and receive money on behalf of a user.

One use case of Payment Initiation Services is in financial management applications in which a user can automate a certain amount of money to be saved into another account monthly. P2P transactions are also possible; such as a case in which two individuals can send and receive money between two different bank accounts in real-time with a mobile application.

2020 Copyright © European Merchant Bank UAB. All rights reserved.
European Merchant Bank UAB is licensed by European Central Bank (License No. 3)
Swift BIC: EUEBLT22
Bloomberg Dealing Code: EUEB
2020 Copyright © European Merchant Bank UAB. All rights reserved.
European Merchant Bank UAB is licensed by European Central Bank (License No. 3)
Swift BIC: EUEBLT22
Bloomberg Dealing Code: EUEB