Request to Pay MOTO

Request to Pay MOTO As already mentioned, R2P is not a payment method, but just a request. It needs to be combined with a SEPA payment. All possible combinations are very well suited for distance trading, so-called “MoTo Transactions” (Mail Order Telephone Order; also called “card not present” transactions in the credit card world). The…

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Request to Pay Basics

SEPA R2P

Request to Pay: who is behind it? In June 2020, the European Payments Council published the so-called Rulebook for Request-to-Pay (SEPA RTP Scheme Rulebook 2020), thereby laying the foundations for Request to Pay. The European Union, together with the SEPA banks, wants to expand the Eurosystem (TARGET Services) to include a variant in payment transactions.…

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SEPA vs TARGET2: How are they related?

Anyone interested in payment transactions in the European Union will quickly come across the terms SEPA vs TARGET2. The relationships are explained here. SEPA vs TARGET2: Single European Payment Area (SEPA) SEPA primarily describes a legal framework for the uniform handling of euro payments, even across national borders. This uniform approach strengthens the entire economic…

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SEPA Payments: Hurdles & Solutions for Banks

The SEPA payments transactions in Germany are processed via the market infrastructure of the Deutsche Bundesbank (BBk). If banks strive to participate in SEPA, it is important to know this infrastructure very well in order not to suffer any cost disadvantages. Previous knowledge of clearing systems from “non-SEPA” payment transactions is often more of a…

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EBICS SEPA: How does that work together?

EBICS SEPA

Anyone who deals with interbank payments in Europe will quickly come across the terms EBICS and SEPA. This article gives a brief overview of the relationships. EBICS SEPA: Electronic Banking Internet Communication Standard (EBICS) EBICS is a communication standard that has been specifically defined for the transfer of payments. EBICS is a DK development that…

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