YowPay vs PIS

SEPA Instant Payment is the future of payments in Europe.

The conversion rates depends on the technical solutions to support them, how hassle free and friction less the client journey is.

2 mains solutions are available on the market, the classical PIS (Payment Initiate Services) and Yowpay

Let’s compare the flows

PIS

Open Payment Page

Choose country of the bank

Choose bank/branch

Enter credentials of the bank (web version of the bank’s site) *

Confirm the payment

Redirection to merchant’s web site

Card

Open Payment Page

Enter card data

Confirm the payment

3DSecure verification

Redirection to merchant’s web site

Yowpay

Open Payment Page

Open Mobile bank and authenticate with Biometrics **

Confirm the payment

Redirection to merchant’s web site

*Friction : most of the client don’t have their credentials for web login as they use banking apps with Biometrics

**Frictionless : the client stays in his usual daily mobile banking app, authenticate automatically with Biometrics

Conclusion:

PIS 6 steps with frictions, Yowpay 4 Steps without frictions, Card payment 5 steps.

PIS solutions usually generating less than 50% of conversion rate, only institutional merchants (payment of invoices) are keeping conversion because end users don’t have choice

See in action, our buyer using PIS and then Yowpay