Request to Pay

SEPA Request to Pay (SRTP)

SRTP is a payment scheme developed by the EPC following a call to action by the Euro Retail Payments Board (ERPB) in November 2018 to analyse and prepare the concrete and rapid exploitation of the request to pay functionality. The scheme includes a set of operating rules, messages and technical elements that allow a Payee to request the initiation of a payment from a Payer before the exchange of the funds (money). 

This scheme complements other current SEPA payment schemes with the aim of providing a better and more complete user experience to end customers.

To provide participating entities with full reachability to exchange SRTP at a pan-European level, Iberpay offers an interoperability link with EBA Clearing's R2P service.

Main Features:

The main features of this subsystem are:

• Real-time processing and 24x7 operation.
• Payment requests with immediate approval or with subsequent approval and immediate or later payment.
• The request has a validity period set from its issuance.
• Target processing time of 1.5 seconds, understanding processing time as the period from when the entity generates the RTP operation, including the timestamp, and issues the request, until it receives the confirmation or rejection of the payment request.
• Maximum exchange time (timeout) of 20 seconds to complete the operation processing.
• Exchanged messages based on the ISO 20022 standard.
• Active management of entity availability, facilitating information between entities about exceptional situations where a participating entity is unavailable.
• Automatic online query of the status of an exchanged operation to obtain information, using a real-time web service, about each of the sent and/or received operations.