Whitepaper Request to Pay (part 2) – applications

Essential results of the whitepaper "Request to Pay and its versatile applications" summarised:

• Financial service providers are potential intermediaries during the introduction of RTP. They provide the required infrastructure and act as enablers by advising their customers.
• The standard offers a high degree of control over payment flows with a high degree of convenience. It can be used both in parallel with the electronic or postal invoice and as a stand-alone process.
• With RTP, old payment models can be transformed in line with ongoing digitisation and completely new models can be designed. This can lead as far as machine-to-machine payments.
• RTP is also interesting for the retail business, as it enables convenient payments for the customers and at the same time benefits the retailer.
• Financial service providers should not take too much time with the essential decision to enter the RTP business. As no big players have claimed their place yet, the market opportunities are excellent.