About Nordea E-payment
Welcome to Nordea’s new online bank payments service.
Nordea Bank Abp (business identity code: 2858394-9), Nordea, provides customers of online merchants – You – the ability to pay from their bank accounts. This is done in a similar way as e-payments or online bank payments that are offered by all Finnish banks.
Nordea is now, enabled by the second Payment Services Directive (PSD2), able to offer secure and smooth online bank payments not also to customers of other Finnish banks. These payments are called Payment Initiation Service (PIS) payments.
In these payments Nordea acts as the Payment Initiation Service Provider (PISP) which means that Nordea provides the technical service to make a payment initiation request to your home bank. This is all done in a secure manner and always with your consent. The actual payment – moving money from your account to the online merchant’s account – is done by your own bank.
The payment flow is very similar to the familiar e-payment, or online bank – payment, with one additional step: Nordea asks for your consent to initiate the payment.
- In the merchant’s webshop, you select to pay from your online bank
- Nordea asks for your consent to initiate the payment and presents you with the available banks to pay from
- After selecting your bank and giving consent, you are directed immediately to your bank’s pages to log-in and confirm the payment. The log-in and payment confirmation is done with bank credentials and tools which your bank has provided to you.
- Once you have confirmed the payment at your bank’s pages, you are then returned back to the webshop via Nordea.
- Alternatively, you may select your bank already in the merchant’s webshop,
- After which Nordea asks for your consent and directs you to your bank’s pages to log-in and to confirm the payment.
- Having done so, you are then returned back to webshop via Nordea.
All the payments are initiated by Nordea, securely, with your consent, and you will be using your bank’s credentials to log-in and confirm the payment.
For You – the payer – there are several key things to keep in-mind
- Nordea, as the Payment Initiation Service Provider (PISP), and as provider of the e-Payment service will
- ask for your consent before initiating the payment on your behalf
- do the payment initiation request to your own bank immediately
- will not hold your moneys during the payment process. The moneys are paid directly to the online merchant or the PSP.
- Your bank will
- ask you to log-in and confirm the payment with the credentials and tools that have been provided to you
- execute – or make – the payment from your account in a same way as if you would have made the payment with the tools provided by your bank. For example from your bank’s online banking service. The due date for the payment is immediately.
- provide details of the payment in your bank’s online banking service and/or in your bank account statement.
- Should you choose not to authorise the payment, the payment initiation request will be cancelled and you will be returned to the merchant’s webshop. No payment will be made and this will be informed to the merchant.
- There are no fees associated to you when making a PIS payment.
In the renewed online bank payments service, Nordea banking customers will continue to make an e-payment, with an upgraded user interface to better cater for mobile and tablet devices.