What is PIS? Naomi June 18, 2019 08:15 Updated Follow PIS stands for Payment Initiation Services. It is performed by a Payment Initiation Service Provider (“PISP”) who can, with the consent of the end-user, initiate a payment on their behalf between multiple accounts the end-user holds. Related articles What is AIS? Do I need to be regulated to provide AIS(Account Information Services)? Comments 0 comments Article is closed for comments.