Survey by Euro Banking Association and PPI proves: there is interest in Request to Pay

The Euro Banking Association (EBA) and PPI wanted to know what European companies think about the new Request to Pay (RTP) standard for electronic payment requests. Together they conducted an extensive survey. The final results confirm the demand for RTP and provide financial institutions with valuable conclusions for the design of corresponding services.

Key findings of the Request to Pay survey by EBA and PPI:

  • 78 per cent of the survey participants were interested or very interested in the use of RTP.
  • More than 90 per cent of the companies surveyed would use RTP in e-commerce.
  • RTP would benefit from integration with ERP systems.
  • E-invoicing would be upgraded to a fully electronic payments circuit through RTP.
  • 43 per cent of the companies can envision transferring additional information with RTP.

The companies are ready

Mid-2021, the first set of rules for a Europe-wide uniform electronic payment request came into force with the SEPA Request to Pay (SRTP) Rulebook. But is there any need for the use of RTP at all? Which application scenarios are suitable? And how do financial services providers' services need to be designed so that companies and end customers can make the most of them? The EBA and PPI investigated these questions in a joint survey. Companies from 20 countries responded to the detailed questionnaire, two thirds of which have annual sales of more than 50 million euros. In addition, detailed, structured interviews were conducted with ten companies in order to draw in-depth conclusions regarding their needs. The results can be found in the final report "Request to Pay: What Corporates Want".