EPC releases SEPA Request-to-Payment SRTP clarification paper

February 8, 2021

Recently Mark Munne and I published ‘the practical guide to Request-to-Pay’ based on v1.0 SEPA Request-to-Pay (SRTP) rulebook that was published 30 November 2020. From June 15 onwards the scheme is available to eligible participants to build a next wave of innovative services. As a next step the EPC has now released its first SRTP clarification paper providing guidance/recommendations to future participants in order to avoid potential fragmentated implementation approach.

Topics covered:

  • Examples of possible use cases, including hints to future rulebook extensions such as ‘requesting a guarantee of payment’, ‘pre-authorisation’, ‘partial payment’, ‘grouping of multiple payments’
  • Accept now/later & Pay now/later: important guidelines, details and examples related to the timing and order of RTP acceptance/refusal and the payment
  • Extra details on features covered in the first release of the SRTP rulebook around the use of payment instruments following a RTP-acceptance
  • Details on the deadline of a Request for Cancellation and Request for Status Update
  • Payer to always verify the data included in a received RTP to ensure it can be trusted, but a Payer’s RTP Service Provider could offer a check if a Payee can be trusted as a VAS.
  • Scheme rules for alternative models: the scheme requires that ‘each Participant needs to achieve full reachability for the Scheme’, however it is allowed for some of the transactions that the RTP-processing becomes a 3-corner model with one party performing the Payer’s and Payee’s RTP Service Provider roles (and respecting the rules inherent to each role)
  • Further guidelines related to the Placeholder for Charges, usage of Remittance Information, use of Positive functional confirmation and some Errata.

EPC Clarification Paper on SEPA Request-to-Pay Scheme Rulebook:

Practical guide to SEPA Request-to-Pay