The SEPA Request-To-Pay (SRTP) Scheme Rulebook

The Single Euro Payments Area (SEPA) Request-to-Pay (SRTP) scheme rulebook consists of a set of rules, practices and standards that makes it possible for any eligible SEPA RTP Service Provider to join, participate and operate in the SRTP scheme. In this context, it should be noted that eligible entities from all countries in SEPA shall be allowed to participate on the basis that the level playing field principle between payment service providers (PSPs) and non-PSPs is respected.

The first version of the SRTP scheme rulebook is based on the RTP specifications document  produced by the RTP Multi-Stakeholder Group (MSG RTP) in November 2019 and comments received during the three-month rulebook public consultation which ended on 30 August 2020.  A document containing the public consultation comments received, the related European Payments Council (EPC) responses as well as the input from the RTP MSG will be published before the end of 2020 on the EPC website.

The SRTP scheme rulebook covers the set of operating rules and technical elements (including messages) that allow a Payee to request the initiation of a payment from a Payer in a wide range of physical or online use cases. The effective date of the first release is set to 15 June 2021 and takes into account the need for an independent certification body - to be selected and become operational - for the certification of applicants to the SRTP scheme as described in the Trust and Security Framework Annex of the rulebook. The EPC is expected to launch a Request for Proposal for this purpose in February 2021.

The SRTP scheme adherence process is envisaged to be opened in the first week of May 2021 to allow applicants to prepare their adherence application ahead of the effective date of the SRTP scheme. 

Also, the aim is to publish by end-November 2021 a second version of the SRTP scheme rulebook which will support more elaborate functionalities. As a first preparatory step, the EPC invites the market to submit its change requests in relation to the first release by 26 February 2021 close of business, as part of its structured and transparent change management process that is governed by the rulebook.

Possible topics to be addressed in a future version of the SRTP scheme rulebook include payment guarantee, instalment payments, pre-authorisation of payment, payment initiation in Payer’s PSP application, possibility to include a URL as well as making the scheme currency agnostic. 

The implementation guidelines related to the first version of the SRTP scheme rulebook are envisaged to the be published by end-January 2021.

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