How it works

First the customer requests that a third party (via a website or app) makes a payment to a beneficiary. The Payment Initiation API standard then enables the following:

  • The third party sets up a payment initiation flow with the API provider (e.g. the customer’s bank).
  • The third party then redirects the customer to their bank to securely authorise the payment from a specific account.
  • The API provider then provides real-time confirmation to the third party that the customer has authorised the payment.
  • The third party submits the payment for processing with the API provider.
  • The API provider makes the payment to the beneficiary.

Payments Initiation API

You can view the full standard and more information about its design principles in Confluence.