PIPE (PSF Imagette Photometric Extraction) extracts PSF (point-spread function) photometry from data acquired by the space telescope CHEOPS (CHaracterisation of ExOPlanetS). Advantages of PSF photometry over standard aperture photometry include reduced sensitivity to contaminants such as background stars, cosmic ray hits, and hot/bad pixels. For CHEOPS, an additional advantage is that photometry can be extracted from an imagette, a small window around the target that is downlinked at a shorter cadence than the larger-sized subarray used for aperture photometry. These advantages make PIPE particularly well suited for targets brighter or fainter than the nominal G = 7-11 mag range of CHEOPS, i.e., where short-cadence imagettes are available (bright end) or when contamination becomes a problem (faint end). Within the nominal range, PIPE usually offers no advantage over the standard aperture photometry.