WHAT IS REQUEST TO PAY?

When buying or ordering goods, the customer triggers the process. The retailer subsequently sends a digital request for payment to the customer that contains all the key information such as processing date, due date, amount, invoicing reference etc. By adding this data, payments have become less prone to errors and can therefore be processed more quickly.

In order to facilitate the process, the retailer’s bank or Payment Service Provider (PSP) and the customer’s bank will provide the required infrastructure, whilst taking into account the EPC standard. Customers will receive the request directly in their banking app where they can easily check and authorise the payment. R2P can be used online as well as at Point of Sale (POS). In this case, the customer confirms the payment directly.

The transparency of the R2P process is guaranteed via a status report which the retailer receives from the bank. This will help the retailer to match the incoming payment to the relevant order.

coconet has compiled the key points of the new specification in a whitepaper, offering Informationen:

  • about the central role of banks in this new market
  • about the advantages of R2P for banks,
  • corporate clients,
  • retail customers,
  • commercial clients.

R2P – AN OPPORTUNITY FOR BANKS TO DEFINE THE RULES

EASIER AND FASTER

R2P offers numerous applications and accelerates processing of payments.

SIMPLIFIES PROCESSES

R2P is the digital bridge between invoice and payment.

TRUSTWORTHY

R2P is data-sensitive and reduces delays and risks during lending.

VERSATILE

R2P can be combined with other payment methods such as cash on delivery, payment by instalments or payment on account.

ADVANTAGES FOR EVERYONE INVOLVED

BANKS

Can position themselves by providing the required infrastructure.

COMMERCIAL CLIENTS

Can offer their customers an additional payment method.

CORPORATE CLIENTS

Can accelerate transactions and benefit from more precise forecasts.

RETAIL CUSTOMERS

Can benefit from a new, convenient payment method, especially data-sensitive customers.

Get a demo now or download whitepaper

 

Are you interested? Please complete the form with your contact details. We will then send you the whitepaper by whitepaper by email or contact you for a demo appointment.

 Bernd Grossmann coconet Group

Bernd Grossmann

Director Business Development

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