Combine water, pinto beans, onion, salsa, cilantro, jalapeno pepper, garlic, tomato bouillon, vegetable bouillon, chili powder, paprika, cumin, and black pepper in an electric pressure cooker (such as Instant Pot®). Close and lock the lid. Select Bean/Chili function; set timer for 45 minutes. Cooker will reach high pressure in 10 to 15 minutes.
Release pressure using the natural-release method according to manufacturer's instructions, 10 to 40 minutes. Unlock and remove lid.