CaixaBank and Iberpay launch Request to Pay in Europe
By Gloria Methri
CaixaBank and Iberpay have announced that their respective payment technology platforms are ready to launch the first SEPA Request-to-Pay in Europe. In parallel, CaixaBank is preparing to soon launch its first commercial service that will facilitate companies’ online and instant management of customers’ unpaid bills through Request-to-Pay messaging.
Request-to-Pay allows companies and individuals to request instant payments from their customers or counterparties online, digitally, and without friction. This new type of instant “pull” payment complements current instant credit transfers, which represent the “push” payment.
Spanish banks have been advocating the adoption of this new European standard for some time. They are working with Iberpay to become certified and incorporate the standard into their services in the coming months. This will help to create a critical mass of users, enabling the widespread adoption of this new functionality and the development of new instant and digital payment solutions.
As in the launch of instant credit transfers in 2017, the Spanish banking sector is once again at the forefront of the development of new digital, instant, and 24×7 payment services for its citizens and companies.
CaixaBank was also the first entity in Europe to carry out the first transaction under the SEPA instant credit transfer scheme when it was launched.
CaixaBank is one of the leading financial groups in Spain with assets of over 618,000 million euros and with a relevant position at a European level. In addition, the bank has a strong presence in Portugal, where it controls 100% of BPI. The group has more than 20 million clients, the largest branch and ATM network in Spain and Portugal, and leads digital banking with over 11 million digital customers.
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