Pay.UK, a retail payments authority, has launched the Request to Pay framework that will enable businesses and individuals to settle bills.
The move comes days after Visa announced its support for Pay.UK after carrying out pilot trials.
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The new framework comprises the message standards, rules, as well as terms and conditions of Request to Pay services.
The framework is designed to enable payment service providers to develop interoperable solutions that can send Request to Pay to their customers.
Companies can utilise the new framework to create Request to Pay propositions. It will help the billers to directly seek payments instead of sending conventional invoices.
Against each payment request, the payer can pay a part or the full amount. It will also enable them to seek more time, decline a payment, or communicate with the requester.
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By GlobalDataThe process provides the payer will more control over payments. Additionally, it provides the requester with all information they need to reconcile the payment when it is paid.
Pay.UK CEO Paul Horlock said: “The Request to Pay Framework represents the culmination of a user driven journey that was started by Faster Payments, taken forward by the Payments Strategy Forum and we’re now excited to see come to fruition through Pay.UK with the support of stakeholders from across the industry.
“It is another milestone on the way towards building a more flexible future for payment services, fit for the needs of people and businesses everywhere.
“We’re looking forward to developers bringing Request to Pay propositions to market.”
According to Pay.UK, more than 400 organisations took participated in an open sandbox to refine the framework.
