The revised payment service directive (PSD2) is transforming the financial services industry by giving consumers more options for how they pay, with payment initiation service (PIS) payments gaining traction in the UK and EU. PIS payments use a consumer's bank account to initiate transfers, allowing easy and secure online transactions, including making payments, opening accounts, and paying invoices from an app or website. Consumer protection is at the heart of PIS development, providing greater protection than with cards, where protections only come into force after authorization. Strong authentication is required for PIS payments, which are also secure due to the bank's checks on consumer ownership of the payment account. Additionally, consumers' payment details are not shared with merchants when making PIS payments, reducing the risk of card fraud. The growth of open banking and partnerships like Railsbank enable innovative models that allow consumers to engage with their money on their own terms, providing protection, security, and benefits for consumers.