Offer and accept secure, direct account-to-account payments.
Yapily Payments enables you to access Payment Initiation Services (PIS) across the UK and Europe through a single API integration.
PIS payments allow customers to pay directly from their bank account using their mobile banking app or online banking portal, sending funds straight to the recipient, in a fast and secure way.
You can initiate single, scheduled and periodic payments using Yapily’s Payments API.
Payments are made via local payment rails including Faster Payments in the UK and SEPA in Europe for fast settlement, and are supported from consumer, business and corporate accounts. You can track the status of each payment via notifications from the Yapily API for visibility of the payment initiation success.
Note: You must be registered as a Payment Initiation Service Provider (PISP) to access PIS via Yapily's Payments API. If you aren’t regulated by a central authority, you can use Yapily Connect to gain simple, easy and fast access without needing to obtain a Third-Party Provider licence.
Supported payment types
Make instant direct payments.
One direct account-to-account payment, which a user can instruct from their bank to pay another account immediately.
Arrange future payments.
One direct account-to-account payment, which a user can instruct from their bank to pay another account at a specified future date.
Periodic payments (BETA)
Set up regular payments.
Multiple direct account-to-account payments, which a user can automate from their bank to pay another account according to the conditions set in the payment request, including frequency, number of payments and payment amount.
The 4 main advantages of PIS payments over traditional payment methods, such as card, are:
1. Low cost initiation
PIS removes bank fees associated with payment processing as all payments are direct account-to-account.
2. Improved security
PIS doesn’t require any card details to be shared or stored when making a payment. The payment process complies with PSD2 security requirements, including Strong Customer Authentication (SCA).
3. Instant settlement
You can leverage local payment rails such as SEPA Instant in Europe and Faster Payments in the UK for instant payment settlement.
4. Wide coverage
Initiate direct account-to-account payments through any application across the whole UK and European open banking network.
PIS payments can offer advantages to a range of payment services, and any business that accepts payments from their customers via card or bank transfer.
Online checkout for e-commerce payments: Optimise your online payment experience for your customers and save money on payment processing.
Wallet top ups: Streamline digital wallet top ups with a fully embedded payment experience.
Invoice payments: Collect invoice and bill payments directly from any application.
Loan settlement: Receive instant loan and interest rate payments directly into your bank account.
Peer to peer payments: Send and receive money from others, directly through bank accounts.
Debt collection: Enable flexible payment collections for your customers.
Don't see your use case? Let us know how you would like to use Yapily Payments.
End user journey
For the user, the payment journey consists of 3 steps:
- The end user wants to make a payment on your application and selects to ‘pay by bank’.
- The user selects their bank and completes the payment authorisation flow to give their permission for the payment.
- The user is directed back to your application on completion.
The payments experience can be embedded into any application. You build and self-host the user facing screens, giving you full ownership and control over the experience in your application, with the Yapily Payments API powering the payments behind the scenes.
Note: We recommend you follow our PIS UX guidelines for examples of best practices when building the user facing screens.
Note: Banks use different methods to authenticate and collect consent from users. Yapily supports all user authorisation flows and you may need to implement multiple user authorisation flows depending on which banks you want to integrate with.
See our single payments tutorial to explore a sample integration with Yapily Payments.
Try our demo app to complete the Yapily Payments flow for yourself with your real banking credentials.