What is Request to Pay
Request to Pay (RtP) is a new proposition designed to give consumers and businesses greater flexibility when making payments. It is one of a number of new propositions the Payments Strategy Forum wishes to see adopted by the market; and is part of its vision for the future of payments in the UK. Organisations offering a flexible “Request to Pay” facility could provide the answer to many customers.
RtP has been identified as one of the Solutions that meets End User Needs in the Payments Strategy Forum strategy document: “A Payments Strategy for the 21st Century”. It is also cited as one of the key new services that will be enabled through Open Banking. The recent Bacs Direct Debit consultation also concludes with the need for an RtP service to meet the evolving needs of customers.