First request-to-pay transaction in Europe between banks

CaixaBank and BBVA The company in charge of Spanish interbank payment services, Iberpay, will now be able to boast that it was the first European banks to carry out a request-to-pay transaction between banks. The success of this proof of concept marks a significant step towards the harmonisation of digital payments in Europe.

FACTS

• BBVA, Caixa and Iberpay have just announced the success of the first interbank operation of "Request-to-Pay" (RTP), carried out by EBA CLEARING.

• Payment service providers exchanged payment requests via the RTP infrastructure in a few milliseconds. All in compliance with and compliance with the SEPA scheme drawn up by the European Payments Council.

• As a reminder, the solution allows a creditor to send a digital payment request to a debtor, who can then make the payment immediately or later, in accordance with the terms and conditions defined.

• The first transactions were successfully handled by Iberpay in a real environment.

ISSUES

• Confirm your progress : The British bank TSB accelerated already the payment of companies thanks to the Request-to-Pay in 2022. But its solution, specific to the UK market, was not part of the SEPA Request-to-Pay scheme (SRTP). Caixabank and Iberpay Initiated For their part in 2023 the first offer of "Request-to-Pay" fully conforms to the SEPA Request-to-Pay (SRTP) scheme, covering the whole euro area. BBVA collaborate For its part, for a long time with Iberpay, particularly around the processing of instant payments between different monetary regions in a real environment.

• Confirm the feasibility of a solution The success of this "proof of concept" allows us to move a little further on the path of harmonisation of digital payments in Europe. This initiative aims to improve collection processes, promote instant payments and promote electronic invoicing at European level.

PERSPECTIVE

• This involvement of Spanish banking actors in the deployment of an interoperable Request-to-Pay payment solution in Europe contrasts with the positioning of these same actors on the topic of Wero.

• While the PPE project is being implemented, a deployment of Wero in Spain is not planned. The Spanish banks, initially involved In fact, in 2021, they distanced themselves from PPE, refusing to finance Wero. They encourage the deployment of their local mobile payment solution, Bizum and even as competitors of PPE propose their own unified payment model.

• Bancomat, Bizum and SIBS Realized their partnership, called EuropPA (European Payments Alliance), last November to highlight their ambitions. Initially limited to southern Europe, the project is expanding; he has just taken another major step by announcing recent integration of the BLIK (the Polish mobile payment system too) against PPE) and Vipps MobilePay (committed It is also a long time ago to create a giant of European m-payment in the north).

Traduit automatiquement via Libretranslate / Automatically translated via Libretranslate