Payment Initiation Service (PIS) definition

Payment Initiation Service (PIS) means a 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.

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Examples of Payment Initiation Service (PIS) in a sentence

• Payment Initiation Service (PIS) – a payment service, wherein a payment order is initiated by your request from a payment account opened in another payment service provider’s institution via Paysera.

• Cashfac PLC is a registered Account Information Service (AIS) and Payment Initiation Service (PIS) Provider (authorised Payment Institution) reference number FRN805666 at ▇▇▇.▇▇▇.▇▇▇.▇▇/▇▇▇▇▇▇▇▇.