OnDemand Video Module

Introduction

Payments using the push transaction model are on the rise around the world. Instead of the sellers pulling money from buyers, buyers initiate payment to sellers. This model has lower risk and is increasingly as convenient to buyers as the older pull model. But how will billers, suppliers, and other payees request payment? Enter the Request-to-Pay, or RtP, which is a new paradigm for presenting a data-rich, digital payment request to the payor. This session introduces the RtP concept, shows the variations emerging in key markets, and predicts where this important trend might lead.

Topics Covered

Topics covered include the SEPA Request to Pay (SRTP) scheme in the EU, the Pay.UK Request to Pay model, the Request for Payment (RfP) concept from The Clearing House in the United States, and the PayTo initiative from NPP in Australia –– which is arguably the most advanced RtP model in the world. It also looks at the various user experiences that we anticipate in the years ahead.

Learning Objectives

To understand the drivers behind Request to Pay (RtP), the leading models seen in the global payments industry, and the likely impact on various stakeholders in the payments ecosystem.