Overview - TapiPay

Initiate a bank transfer from within your Application using TapiPay

What is a TapiPay Payment?

The Tapico Open Banking Payment Initiation service, TapiPay, enables the secure transmission of payment instructions from a system receiving funds (e.g your Application), to an Account Servicer's system (e.g. your End-User's bank) from which the funds are debited.

As a regulated Payment Initiation Servicer Provider (PISP), Tapico does not itself move money and never comes into possession of funds. Rather the framework enables the secure transmission of payment instructions to a bank via authorisation flows that ensure the validity and regulatory authority of the Payments Initiator.

The End-User's bank ultimately executes the payment in a manner not dissimilar to if they had manually keyed payment details into Internet Banking themselves. It will always; ask the customer to verify the instruction, and obtain their consent to execute the payment.

Once authorised the payment is executed as a standard bank transfers through standard banking payment schemes (e.g. Faster payments).


Payment Initiation Flow

Type of payments available

TapiPay is currently only available to our customers in the UK wishing to initiate a single immediate domestic payment. In other words a payment that is from one UK bank account to another UK bank account that is to be actioned immediately upon the recent of the payment instruction.