The solution is a core component of PAY.UK’s new payment architecture, its new conceptual model for the future development of the UK’s shared retail payment infrastructure. Set to launch in Q1 2020, Request to Pay enables consumers to electronically receive payment requests, view bills, and make real-time bill payments—all in one place.
Request to Pay serves as a secure, unified messaging service, enabling users to communicate before bill payment takes place. User benefits include the simplification of the payment process, increased transparency into how and when bills are paid, and cost savings related to increased straight through processing and simpler reconciliation through greater use of structured data.
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