About Request to Pay

What is Request to Pay? | How it works

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Request to Pay (RtP) is a messaging ecosystem that provides the necessary secure interconnecting communications required to make secure payment requests possible.

The flexibility of cash with the control of Direct Debits.

Request to Pay (RtP) reduces the cost of managing bill payments by offering customers their choice of payment method through one integration.

Easier bill payments, happier customers. Increase engagement with your client base by becoming the foundation of their bill payment experience

‍Traditional payments require customers to visit a biller or merchant checkout and initiate a payment.  With Request to Pay this process is decoupled so that a biller can initiate a payment request and a customer can choose where and how they pay. 

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5 facts about Request to Pay

1. Research conducted by Answer Digital shows 52% of payers would like the option of delaying a bill payment, usually for reasons as simple as matching bill dates up with payday. Request to Pay allows businesses to have this kind of flexibility, helping to boost customer loyalty whilst increasing electronic payments and migrating payers away from cheque, cash, and cards –which all come with high processing costs. Accesspay

2. 90% of UK consumers surveyed think that businesses should offer a wide choice of payment methods. Smartdebit

3. Research shows that customers would be 50% more loyal to a brand that offered RtP than one that didn’t, even if the other brand had better pricing. Answerdigital

4. Research conducted by Accenture and the Faster Payments Scheme estimates the adoption of RtP could save 18 –36 pence per transaction. This comes from switching from paper to electronic billing, reducing time and effort in chasing late payments, and increased reconciliation. For large corporates with millions of customers, the potential cost savings are substantial. Accesspay

5. According to a report by pay.uk, billers in the U.K. will save up to £1.3 billion per year in billing costs alone. Paymentsjournal

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How it works

how request to pay works

Answer Pay estimates in the UK that, with 55% of utility bills paid by Direct Debit, and the remainder paid by cards, cash and cheques, the Request to Pay market could equate to 1,354 million transactions a year.

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