Request to Pay

Faster Payments has offered a credit transfer (push payment) service since launch in 2008. The Faster Payments Service now handles over 1.4 billion such payments worth over £1 trillion a year.  

However, changes in working patterns (self-employment, multiple employments, zero hours contracts) have led to increasingly unpredictable or irregular income streams for some consumers – which can mean existing methods for paying bills do not meet their needs.

To meet these needs, Request to Pay is a new secure messaging service which will be available for the market to competitively launch in 2019. Request to Pay is designed to improve the control, flexibility and transparency of bill payments - it will be overlaid on top of existing payments infrastructure as a new flexible way to settle bills between businesses and organisations as well as among friends.

For each ‘request’, the payer will be able to pay in full, pay in part, ask for more time or decline to pay and begin a dialogue with the requester. It gives more control to the person being asked to pay.

The Request to Pay service is currently in development. A new portal - www.requesttopay.co.uk - has been launched by our parent company, Pay.UK, to enable interested Payment Service Providers and billers register to play their part in developing the service.

Find out more about Request to Pay at requesttopay.co.uk.

Request to Pay Roundtables

Pay.UK will be launching the Request to Pay service in in Q2 2019, and in preparation the Request to Pay team have commissioned research agency Ipsos Mori to conduct a series of independent roundtables with key stakeholders.

The roundtables will be an opportunity for stakeholders to find out more about Request to Pay, express their views of the proposition and the opportunities that it will create, and identify potential barriers to its implementation (as well as routes to overcome these).

There are still places left for the below sessions. If you are intereseted in attending, please get in touch with us here.

Trade bodies 29th January 2019
Consumer bodies 31st January 2019
Telecomms and entertainment 5th February 2019
Utilities 6th February 2019
Food, travel and transport 12th February 2019
Retail 13th February 2019
Charity 18th February 2019

 

Request for Payment

Produced by Eclipse Experience in conjunction with Faster Payments

This report summarises the service user research conducted by Eclipse Experience and Faster Payments into the benefits to users of a Request for Payment service. This research took place between March and September 2016, via a number of interviews with both payers and billers, utilising two prototype devices to stimulate responses from the interviewees. The report provides a background into how the interviews were conducted