The Payment Initiation product provides certified parties with access to their clients’ current accounts to initiate direct payment transfers in a safe and secure way. Create a seamless journey for your clients, who remain in full control throughout: the account holder always decides who gains access.
What is it?
With the Payment Initiation API, you can initiate a single credit transfer on behalf of your users from a Rabobank payment account to another account. You can retrieve the status of the initiated transaction to keep track.
The API can be used through your app or web service to optimize your customer journey. A payment can only be intiated from an account when the account holder authorizes this payment.
The current version is suited for single Euro Credit Transfers (SEPA)*, Recurring payments, Cross Border Payments (non-SEPA) and gives you extended status information of the initiated payments.
The Payment Initiation API will be expanded in the near future to include Bulk payments.
Who can use it?
The product is designed for use by Certified Payment Initiation Service Providers (PISPs).
What do you need?
The Payment Initiation product is PSD2-compliant and designed for Certified Payment initiation Service Providers. As a Certified Payment initiation Service Provider you require authorization of the National Competent Authority in order to be able to use the APIs.
How does it work?
- The customer instructs the PISP to have the payment transaction executed by Rabobank
- The PISP sends the details of the payment transaction to Rabobank via the PIS API
- Rabobank will provide an URL to the PISP, which can be used by the customer to authorise the payment transaction for execution
- The PISP directs the customer to Rabobank by means of the provided URL
- The customer will authenticate itself in the secured and trusted Rabobank environment
- The customer can simply select a debit account out of the list of its payment accounts, if no account is provided by the PISP
- The customer authorises the payment in the secured and trusted Rabobank environment
- After a successful authorisation (step 7), Rabobank has received the payment and starts processing the payment transaction
- The customer is automatically directed back to the PISP
- The PISP can retrieve the status of the payment through the status API to keep track.
*Single Credit Transfers will be credited directly in case the beneficiary bank participates in Instant Payments (only applicable for participating beneficiary banks within the Netherlands).