Under PSD2, a ‘payment initiation service’ is an online service which accesses a user’s payment account to initiate the transfer of funds on their behalf with the user’s consent and authentication. Payment initiation services provide an alternative to paying online using a credit card or debit card. These services are not widely used for online payments in the UK, but are used in other European countries. The new rules will bring payment initiation services within the scope of regulation. This will ensure that payment initiation service providers (PISPs) receive access to payment accounts, whilst also placing requirements on them to ensure security for users.