EBA Clearing has won the backing of 24 financial institutions from 11 countries for a new pan-European Request to Pay (R2P) infrastructure solution.
EBA Clearing says it has had strong positive feedback from its multinational user community during a consultation over the last few months on an R2P blueprint.
The blueprint sets out a thin-layer infrastructure solution that will be based on real-time messaging and separated both from the services solutions and payment infrastructure layers.
The solution is aimed at accommodating both existing and future Request to Pay end-user products and services, regardless of the underlying use case. To this effect, it is expected to allow both ‘Approve Now’ and ‘Approve Later’ responses from the payer.
EBA clearing plans to deliver its offering by the end of next year, stressing that it will be "perfectly aligned" with the European Payments Council's work on Request to Pay.
Hays Littlejohn, CEO, EBA Clearing, says: "We believe that a use case-agnostic pan-European R2P infrastructure solution will be a crucial part of the toolset PSPs need to unlock the full potential of instant payments.
"It is great to see that 24 of our users have already confirmed their support of this development project; we expect that more will follow shortly and will be very happy to welcome them too."