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.
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