Sepa Request to Pay “Payment collection for companies”, an easy solution to request payment Qorus-Infosys Finacle Banking Innovation Awards 2024

Economic digitalisation and the demand for instant digital payments have created an opportunity to transform payments in Europe through Sepa Request to Pay (SRTP). Caixabank proposes an innovative solution that offers an intuitive and agile user experience. Issuers of the "Request to Pay" can easily link the request to the end of the issuing process of the returned direct debit. This functionality is available to both Caixabank customers and customers of other entities adhering to the "Request to Pay" scheme. Payers, upon receiving a request, can manage it through the Caixabank App or Web, with the option to accept and make an instant transfer or reject it. In addition, they can select which Caixabank account they want to charge the transfer to, which facilitates the experience and promotes the use of the service. SRTP is key to boosting immediate current account-based payments, complementing the SCT inst scheme and facilitating the initiation and reconciliation of payments. Caixabank's solution allows mass payment requests to be sent and, at the end of the year, also in an individualised and selective manner, while ensuring traceability with the returned direct debit for rapid reconciliation by the issuer. This positions Caixabank as a market leader by offering a differential banking service for the management of B2B and B2C payments.