EBA Clearing has announced that its request to pay (R2P) service is now ready for commercial applications, following a successful pan-European proof-of-concept involving eight payment service providers (PSPs).
The R2P service is a pan-European messaging framework designed to enable PSPs to offer request-to-pay solutions to end users. It was developed with the support of 27 PSPs in preparation for the launch of the SEPA Request-to-Pay Scheme in 2021.
During the recent proof-of-concept, notable institutions such as BBVA, BNP Paribas, CaixaBank, Commerzbank, Crédit Agricole, Deutsche Bank, DZ Bank, and Pine & Cone were able to rapidly exchange request-to-pay messages via the R2P infrastructure in mere milliseconds.
EBA Clearing emphasizes that the proof-of-concept not only demonstrates the service’s readiness for commercial use but also highlights how PSPs can implement and derive value from request-to-pay functionalities, particularly in the realm of e-invoicing for business-to-business transactions.
Fredrik Tallqvist, project manager for the R2P proof-of-concept at EBA Clearing, stated, "By exchanging requests to pay and related responses across Europe, our eight participants showcased the ease of use and integration of R2P with their end-user solutions, providing a compelling outlook on the benefits that request to pay can offer to the invoicing processes of businesses across the continent."
Raouf Soussi, head of strategy for enterprise payments at BBVA, commented, "Collaboration with other PSPs has been invaluable, highlighting the importance of a uniform technical deployment for the success of any request-to-pay products. This has greatly motivated us to advance our RTP project implementation, not only in the B2B sector but also in the B2C space."
Payments professionals from across Europe are set to convene at EBADay 2024 at the Lisbon Congress Centre on June 18-19 to explore the latest trends in the payments industry. With over 1,000 delegates expected, the event promises two days of intensive discussion and an exhibition featuring technology products and solutions from more than 50 vendors addressing key issues in payments. Registration is now open.