Payment initiation service (PIS)
Payment initiation service (PIS) – a payment method based on an open banking system. It enables online buyers to pick their bank and, often without even leaving the payment window, confirm the payment for goods or services. It is a cheaper alternative to the previously popular Bank Link service.
The PIS Payment window is already known to many clients in Europe. The payment initiation service is licensed and regulated by the Bank of Lithuania. Both the PIS provider Paysera and the banks guarantee the safety of clients' personal data and funds. 24/7 client support in English.
PIS fees – much lower than those of Bank Link, which is still a prominent payment processing method in e-shops. Possibility to give up to 1% cashback to clients paying via their Paysera accounts.
Can be used together with Paysera Checkout in order to offer an even wider range of payment options – including accepting card payments and more. Possibility to check in the statements if the payment was made.
Order and manage the service online. Track payments in real-time in one place – your Paysera account. Offer popular payment methods to clients (via popular banks, including Swedbank, SEB, Luminor, Revolut, and so on).
How does payment via PIS look like?
Select your bank.
In order to pay, the buyer first selects the bank where they have an account.
Log in to your bank.
The buyer enters their login details and if needed gives permission to Paysera to process the payment.
Confirm the payment.
The buyer confirms the payment and is returned to the e-shop.
How to start using the payment initiation service?
If you are already using the Paysera payment gateway for accepting online payments and now want to switch to the payment initiation service and start saving money – you should select this method in your project settings in your Paysera account.
Log in to bank.paysera.com > Projects and Activities > My Projects > Project settings > Payment gateway service settings.
PIS for non-e-commerce businesses
B1 solution – seamless integration of Payment Initiation Service (PIS) for businesses without an e-shop. How does it work? Using the B1.lt program, the PIS function is activated before generating an invoice for payment. Once activated, an invoice is created with a special Pay Now button. With just one click, your customers are redirected to a payment page where they can choose their bank and complete the payment in just a few seconds.
