Today, the first version of the Single Euro Payments Area (SEPA) Request-to-Pay (SRTP) scheme rulebook enters into force (see in “related document”). The 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.
Furthermore, on 5 May 2021, the adherence process to the SRTP scheme was opened to allow the applicants to prepare their applications even ahead of the SRTP rulebook’s effective date. 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.
About the scheme
The SRTP is a messaging functionality that complements the end-to-end payment flow because it allows a payee to request the initiation of a payment from a payer in a wide range of both physical and online use cases. Find out more about it on the SRTP scheme’s page here.
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