How does PIS work?

When collecting payments with the payment initiation service (PIS), the client is not redirected to his/her e-banking system. Instead, since the login is not performed directly, but via Paysera, the bank understands it as a standard login and transfer performed by the user. As the result, the bank does not charge any additional fees from the seller.

Lower price

The average price for payment collection applied by most banks in Lithuania is 2-3% from the amount, whereas the price for payment initiation service (PIS) is about three times lower. 

Safety

Collecting payments via PIS is as safe, as via BankLink, as all data of clients accepted and transferred to the bank are encrypted with SSL certificate. Client login data is not collected or stored in the system of the PIS provider.

Regulation

PIS technology has been regulated in 2015 in the PSD2 Payment Services Directive of the European Union. The Bank of Lithuania has prepared principles of good practice which Paysera complies with to protect both buyers and sellers.
 

Real-time notifications

With both BankLink and PIS service payments are collected 24/7, and the seller is informed about a successful payment immediately after it is completed.
 

All income to one account

It is easy to monitor and manage income when you do not have many accounts in different banks. Income is collected to one Paysera account, which makes it even easier to see the detailed statistics and form reports.

Convenient administration

It is easy to manage one or several e-payment projects, as the account can be accessed at any time of the day and from anywhere by logging in to Paysera e-payments system.

Client identification

Clients can be identified easier, using the additional PIS service which allows to request the personal identification number of the client from the bank during the transfer and give it to the recipient. If the client refuses to transfer his/her personal identification number, s/he will not be able to finish the operation.