Request to Pay (RtP/R2P)
Request to Pay (RtP) is an emerging secure messaging framework that will allow payees to request pull payments from payers in a more flexible way. Unlike direct debits, RtP gives the payer options, including paying in full, paying in part, requesting more time, or declining the request.
Applications
E-commerce:
Reduces fraud in online card payments by verifying the cardholder's identity
E-commerce:
Reduces fraud in online card payments by verifying the cardholder's identity
Advantages
- Enhanced security: Reduces unauthorised transactions by verifying that the genuine account holder is authorising the payment
- Enhanced security: Reduces unauthorised transactions by verifying that the genuine account holder is authorising the payment
Challenges
- User Experience: Additional authentication steps can cause friction and increase checkout abandonment
- User Experience: Additional authentication steps can cause friction and increase checkout abandonment
