Watch the on-demand webinar with FIS, as our panel of industry experts check the pulse of the Request to Pay (R2P) movement, and explore the potential business and commercial benefits of the standard for electronic payment requirements, and how it can be a gamechanger in offering a range of innovative services to the customer.
According to a recent EBA questionnaire – which surveyed companies from 20 countries, between September 2020 and February 2021 – 100% of businesses have an interest in using R2P, and would like to see it implemented uniformly across Europe.
Often touted as the key to securing the financial ecosystem’s compliance with ISO 20022, R2P must be embraced from end-to-end by banks. Through the delivery of R2P transactions, financial institutions have closer control over the value-adds tied to transactions, as well as stronger communication with users.
At the moment the key areas of application include point of sale (POS), e-commerce, e-invoicing and recurring payments, R2P promises corporates increased data availability, as well as a more transparent view of the status of invoices and where their payments are. Used alongside instant payments – or other payment guarantee options – R2P can engender high market penetration.
Extended to the consumer, the benefits of R2P gives opportunity to enhance the customer experience – allowing more flexibility on how to pay bills and retaining control of their cash flow – extending to consumer-to-consumer (C2C) and machine-to-machine (M2M) payments.
This Finextra webinar, in association with FIS, will cover:
- How is R2P uptake progressing?
- What are the key pioneering geographies?
- What are the potential benefits and use cases for banks, corporates, and customers?
- How should adoption of R2P be accelerated?
- Gary Wright – Head of Research, Finextra [Moderator]
- Guy Moons - Head of International Solution Consultants, Enterprise Payments, FIS
- Christian Schäfer - Director, Head of Payment Products & Solutions, Deutsche Bank
- Petia Niederländer - Director for Payments, Risk Monitoring and Financial Literacy, Oesterreichische National Bank (Austrian National Bank)