{"id":9166,"date":"2023-12-05T11:11:17","date_gmt":"2023-12-05T16:11:17","guid":{"rendered":"https:\/\/faisalkhan.com\/?page_id=9166"},"modified":"2023-12-05T11:13:35","modified_gmt":"2023-12-05T16:13:35","slug":"payment-initiation-service-pis","status":"publish","type":"page","link":"https:\/\/faisalkhan.com\/learn\/payments-wiki\/payment-initiation-service-pis\/","title":{"rendered":"Payment Initiation Service (PIS)"},"content":{"rendered":"\n
A Payment Initiation Service (PIS) is a type of financial service that facilitates the initiation of a payment transaction on behalf of a user. This service is typically provided by third-party financial service providers, not by the banks where users hold their accounts. Here’s a detailed explanation of PIS:<\/p>\n\n\n\n
Payment Initiation Services represent a significant shift in the way payments are made, emphasizing the role of digital technology and the importance of secure, efficient transactions in the modern financial landscape.<\/p>\n","protected":false},"excerpt":{"rendered":"
A Payment Initiation Service (PIS) is a type of financial service that facilitates the initiation of a payment transaction on behalf of a user. This service is typically provided by third-party financial service providers, not by the banks where users hold their accounts. Here’s a detailed explanation of PIS: Payment Initiation Services represent a significant […]<\/p>\n","protected":false},"author":1,"featured_media":0,"parent":3611,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"_uag_custom_page_level_css":"","_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"blocksy_meta":[],"featured_image_urls":{"full":"","thumbnail":"","medium":"","medium_large":"","large":"","1536x1536":"","2048x2048":"","gb-block-post-grid-landscape":"","gb-block-post-grid-square":"","yarpp-thumbnail":""},"post_excerpt_stackable":"
A Payment Initiation Service (PIS) is a type of financial service that facilitates the initiation of a payment transaction on behalf of a user. This service is typically provided by third-party financial service providers, not by the banks where users hold their accounts. Here’s a detailed explanation of PIS: Definition and Meaning: Payment Initiation Services allow customers to make online payments directly from their bank accounts without using traditional credit or debit cards. PIS providers act as intermediaries, transferring funds from the payer’s bank account to the payee’s account. They access the customer’s bank account information with the customer’s consent…<\/p>\n","category_list":"","author_info":{"name":"Faisal Khan","url":"https:\/\/faisalkhan.com\/author\/nomismad\/"},"comments_num":"0 comments","featured_image_urls_v2":{"full":"","thumbnail":"","medium":"","medium_large":"","large":"","1536x1536":"","2048x2048":"","gb-block-post-grid-landscape":"","gb-block-post-grid-square":"","yarpp-thumbnail":""},"post_excerpt_stackable_v2":"
A Payment Initiation Service (PIS) is a type of financial service that facilitates the initiation of a payment transaction on behalf of a user. This service is typically provided by third-party financial service providers, not by the banks where users hold their accounts. Here’s a detailed explanation of PIS: Definition and Meaning: Payment Initiation Services allow customers to make online payments directly from their bank accounts without using traditional credit or debit cards. PIS providers act as intermediaries, transferring funds from the payer’s bank account to the payee’s account. They access the customer’s bank account information with the customer’s consent…<\/p>\n","category_list_v2":"","author_info_v2":{"name":"Faisal Khan","url":"https:\/\/faisalkhan.com\/author\/nomismad\/"},"comments_num_v2":"0 comments","yoast_head":"\n