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SEPA Request-to-Pay (SRTP)

Created by the European Payments Council (EPC), SEPA Request-to-Pay (SRTP) is a frictionless and instant payment framework that lets European companies request physical or online payments (up to 100K euros) from customers.

Like SEPA Direct Debit, SRTP will soon become a standard for national and international payments within the EU. And MONEI will be one of the first payment service providers to help businesses accept SRTP, thanks to our partnership with the EPC.

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Benefits of accepting SEPA Request-to-Pay

Technically speaking, SEPA Request-to-Pay is not a payment method. It’s a messaging system that allows a payee to request the initiation of a payment from a payer via SMS, WhatsApp, or email.

With SRTP, you hold the power to request payment from customers (instead of them initiating payments). You’ll simplify and streamline the payment process, making it frictionless and guaranteeing payment.

Advantages of accepting SRTP instant payments:

  • Heightened security
  • Flexibility for you and your customers
  • Allows for cross-border payments
  • Real-time payment processing, 24/7, 365 days a year
  • Immediate availability of funds
  • Ability to request in-store and online payments

SRTP is a European payment standard in the making. Adding this soon to be widely used omnichannel payment option to your payment stack is a no-brainer, especially if you’re looking to grow a cross-border e-commerce business.

SEPA Request-to-Pay payment process

The experience for the payer is similar to other open banking payments, but the payment request channels and security depend on the payment service provider (PSP). Regardless, PSPs must comply with strict rules created by the European Payments Council.

Use MONEI to configure SRTP and securely request instant payments:

  1. You request the initiation of a payment via SMS, WhatsApp, or email
  2. Payer confirms or rejects the request
  3. After confirming the request, the payer chooses to pay immediately or later
  4. Settlement of the transaction is based on the payees bank or card issuer, not SRTP
Improve the payment experience with SEPA Request-to-Pay, but don’t stop there. Boost sales by accepting many payment methods including cards and alternative and local payment methods like Google Pay, Apple Pay, PayPal, SOFORT, Click to Pay, Cofidis, Bizum, Giropay, Trustly, Bancontact, iDEAL, Multibanco, SEPA Direct Debit, Klarna, and more.
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Get the SEPA Request-to-Pay integration

MONEI will be the first Spanish fintech to offer instant payments across Europe with SEPA Request-to-Pay. Register now to get on the waitlist — test integrations and other payment methods while you wait. We’ll notify you as soon as SRTP is available. Questions? Get in touch.

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