Payment Service Users

Open Banking Access to Your Accounts

Transactive supports the Open Banking initiative. This enables trusted Service Providers to obtain your account statements or initiate payments on your behalf.

Registration Step

To grant a Service Provider permission to access your accounts, simply accept their Application Registration Request sent to you by Transactive via Authy:

  • Service Providers that you want to view your account statements, called Account Information Service Providers (AISPs), should only request AccountInfo authority and have zero limits

  • Service Providers that you want to make payments on your behalf, called Payment Initiation Service Providers (PISPs), need both AccountInfo and Payments authority. The limits should be as you and the provider agreed. 

Approve the Application Registration Request if the authorities and limits are as you would like them and you want to give the Service Provider the requested access.

Account Information

When a Service Provider requests access to your accounts you will receive a Connection Request:

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Approve it you want to allow the connection. The connection request is good for an hour after which the Service Provider must make a new Connection Request.

Payment Initiation

When a Service Provider initiates a payment from your accounts you will receive a Payment Approval Request;

Check the details and approve or deny the payment.

De-Registration

To remove a Service Provider’s access:

  • log onto the Transactive portal
  • navigate to your profile page
  • find the Application giving the Service Provider access and de-register it.