Our Open Banking Product Manager recently discussed the Request to Pay trend with IT Nation and shares LUXHUB's
online payment vision
, focusing on the need to provide flawless and secure experiences to both payers and payees.
Request to Pay is not a new payment method, but rather a new way for the payee and the payer to communicate. Combined with Open Banking-powered payment initiation services, RTP contributes to facilitating the life of the user while also reducing the risk of error linked to payment, highlights
Ramzi Dziri.
He adds:
the payer receives the request it could be a QR code printed on an invoice, a link in an email, a text message, etc. After clicking, he/she picks his/her bank and is redirected to the selected banks mobile app or web-banking interface. The request already contains all the necessary information to proceed to payment: amount, beneficiary, account number, etc. Therefore, the payer only has to verify all pre-entered data and then to validate the transaction without having to add anything.
Read the full article (in French)