Answer Pay offers SEPA Request to Pay in Europe

Wednesday 13 April 2022 13:59 CET | News

UK-based payment service provider Answer Pay has connected to EBA CLEARING’s R2P messaging system to offer SEPA Request to Pay across Europe.

Answer Pay is setting up this connection with pan-European payment infrastructure provider, EBA Clearing, so that European banks too can leverage pre-built solutions and stand up their Request to Pay services.

Request to Pay is a new messaging protocol that facilitates bill payments for consumers via banking mobile phone apps. It moves the industry away from pay by link methods to augment payments from mobile texts and emails. It also creates a two-way dialogue between bill payers and suppliers, important when consumers struggle to pay bills and make ends meet.

Request to Pay is primarily aimed at utility providers, councils, and government departments but could equally work for any business or individual that deals with large numbers of customers paying regular amounts. Answer Pay’s platform implementation of Request for Pay delivers bill payment by mobile banking apps, control over when and how to pay (for payers), lower-cost settlement, and no cash or cheques for billers.

Company officials said that they launched their R2P messaging service in 2021 thanks to funding from 27 banks across 11 countries and based on the SEPA Request-to-Pay’s Scheme of the European Payments Council. It enables service providers to develop innovative solutions for billers and consumers while relying on Europe-wide standards, rules, and infrastructure. 

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Keywords: SEPA, expansion, payments infrastructure, payment methods, Request to Pay
Categories: Payments & Commerce
Companies: Answer Pay, EBA
Countries: Europe
This article is part of category

Payments & Commerce

Answer Pay



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