AISP vs PISP - what's the difference?

Open Banking currently offers two basic ways for you as a merchant to interact with your clients’ bank accounts. You can act as a PISP or as an AISP. In some cases, and if your business requires it, you can act as both AISP and PISP.

PISPs Payment Initiation Service Providers
AISPs Account Initiation Service Providers


When acting as a PISP, merchants can request clients to make payments via Open Banking.

For end users they:

  • Select Open Banking as the payment method on your payment page.
  • Select the bank where their account is held.
  • Are redirected to this bank’s online banking service.
  • Verify themselves by providing their online banking credentials (as they would normally do when logging on to their online banking system).
  • Select an account from which the payment will be taken (where the customer has more than one account with the bank).
  • Confirm the payment amount.
  • Are then redirected to the merchant page.


Access to account information may be useful for certain businesses where seeing a client’s activity on a given account may inform a lending decision, for example. AISP access would also be useful in an ERP application that needs to provide real-time views of a number of bank accounts in a single location.

For end users they:

  • Need to confirm the account access request.
  • Are redirected to their bank and must log on.
  • Review the requested access and the requested duration.
  • Confirm the request.

Once confirmed the requesting organization may handle the account details as required.