After successfully obtaining the homologation certificates from the EPC1, CaixaBank and Iberpay are thrilled to announce the imminent launch of their payment technology platform partnership. Beginning June 22, they will introduce the first SEPA Request-to-Pay in Europe, revolutionizing the payment landscape.
In a significant milestone, CaixaBank has become the first bank in Europe to secure EPC’s Request-to-Pay homologation certificate. This accomplishment paves the way for the upcoming launch of an innovative commercial service that enables seamless online and real-time management of customers’ unpaid bills through Request-to-Pay messaging.
Request-to-Pay empowers both businesses and individuals to effortlessly request instant payments from their customers or counterparts digitally, eliminating unnecessary friction. This novel “pull” payment method, initiated by the payment recipient, perfectly complements the existing “push” payment system facilitated by instant credit transfers.
Spanish banks have long championed the widespread adoption of this European standard, and their collaboration with Iberpay has been instrumental in obtaining certifications and incorporating the standard into their services in the coming months. By fostering a critical mass of users, this initiative will drive the broad acceptance of this new functionality and lay the foundation for the development of additional instant and digital payment solutions.
Building upon their success in launching instant credit transfers in 2017, the Spanish banking sector once again assumes a leading role in pioneering digital, instant, and round-the-clock payment services for both individuals and businesses. CaixaBank, as a trailblazer, previously executed the first transaction under the SEPA instant credit transfer scheme when it was initially introduced.
With the introduction of SEPA Request-to-Pay, CaixaBank and Iberpay usher in a new era of payment solutions, transforming the way individuals and companies engage in digital transactions.
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