Overview

EBA CLEARING is currently developing a pan-European request to pay (R2P) infrastructure service with the support of 27 PSPs from 11 European countries. R2P will be aligned with the request to pay scheme that is being created by the European Payments Council (EPC). The service is on track to go live in November 2020 when the EPC’s SEPA Request-to-Pay (SRTP) Scheme is scheduled to be delivered.

R2P provides a real-time messaging layer supporting a standardised and managed exchange of request to pay messages on a pan-European level. Separated from the end-user solutions and payment infrastructure layers, R2P is use case and payment channel agnostic.

Key benefits

  • Data-rich inter-SP solution

  • Supports improvement and interoperability of end-user solutions

  • Secure and highly performant infrastructure

  • Designed to build pan-European reach

  • Open to any RTP Scheme-adhering SP

  • 24/7 non-stop service

  • Use case-agnostic design

  • ISO 20022 real-time messages

  • Leveraging existing components and interfaces

  • Developed to be compliant with the future EPC RTP Scheme

  • Future-proof in terms of scalability and flexibility

  • Shaped by users

Background information

A pan-European request to pay service is seen as the missing piece of the puzzle to realise the full potential of instant payments. Request to pay end-user services built on top of such a messaging infrastructure are expected to increase certainty, transparency and convenience of payment processes, for instance by speeding up the end-to-end process, reducing risk and easing reconciliation.

In response to growing market demand for new and enhanced payment solutions that leverage existing payment infrastructures and instruments in SEPA, EBA CLEARING began to investigate the possibilities of request to pay in 2018.

In November 2018, EBA CLEARING launched a task force composed of experts from financial institutions across Europe to work on a blueprint for a pan-European request to pay infrastructure solution. The task force delivered a blueprint in early 2019 that set out a thin-layer infrastructure based on real-time messaging and separated from both end-user solutions and the payment infrastructure layer.

In Q2 2019, EBA CLEARING launched a call for funding to which 27 financial institutions from 11 European countries responded positively. In September 2019, R2P entered its development phase. A first version of its specifications was published in December 2019.