It’s official Request to Pay is coming onstream, and it’s not just the UK!
Answer Pay has been monitoring the bloggersphere for over a year tracking the progress of Request to Pay adoption. And why wouldn’t we, as the first company to deliver a live end to end integration and demo platform in the UK!
This week, Finextra has published more research evidencing how Europe too is racing ahead with Request to Pay adoption. In February 2021, a survey was conducted of companies across 20 countries and the attitude of the business community toward RTP was clear: almost 100 % of companies have an interest in using the standard. In all of them, more than 80 % of the respondents could at least imagine a use, in e-commerce even more than 90 %.
One statistic in the report we find particularly resonating; the fact that 43 % of respondents could imagine transferring warranty or return information with the data record. This suggests (as we’ve been highlighting for some time) that RTP becomes an invaluable additional communication channel to the end customer to manage payment issues, challenges and so far unresolved customer communications needs.
Read the full survey here