Mastercard launches new ‘Request to Pay’ service

Mastercard has announced the launch of its new Request to Pay application service through Pay.UK.

The payment giant said that the new solution is the first to offer end user application services within Pay.UK’s Request to Pay framework, designed to provide flexibility for individuals and businesses on bill payments.

The new service will enable billers to create and send payment requests to payers who can then view and respond as an alternative to invoicing.

The Mastercard service can build and enrol end user applications, including mobile apps for consumers or corporate IT systems, which are needed to develop, send, view, and respond to ‘Requests to Pay.’

“Mastercard’s Request to Pay solution has the ability to transform bill payments in the UK,” said Andrew Buckley, executive vice president, product management at Mastercard. “As individuals and businesses all demand faster, easier and more intuitive ways to pay bills, the pressure is on financial institutions to quickly offer innovative solutions.

He added: “This extension to our Request to Pay offering provides our partners with a way to accelerate the launch of their own tailored solutions ensuring that they stand out in the sector while being able to benefit from increased customer engagement and additional revenue streams.”

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