The service, which has been developed in partnership with Exela Technologies, is designed to put control in the hands of the payer and will provide the options to pay in full, in part, request additional time to make a payment or decline to pay and begin a dialogue with the requester.
Sitting alongside direct debit and other bill payment methods, it will benefit consumers, SMEs, large organisations and not-for-profits by providing more options and flexibility to settle bills between businesses and individuals.
“Secure and unified electronic messaging is the missing piece of the jigsaw in revolutionising the automation of bill payment processes,” added Vitalie Robu, President, EMEA, Exela Technologies.
“Enrolling to the Pay.UK Framework is an important milestone in the roll-out of our Request to Pay solution in the UK,” said Gregor Dobbie, CEO of Vocalink, a subsidiary of Mastercard. “Consumers are increasingly demanding faster, easier and more intuitive ways to pay bills and our Request to Pay will enable companies to meet these demands.”
“Mastercard’s enrolment is another significant leap forward for what is set to become a fast-growing market of Request to Pay services. By putting user control at the heart of the payment process, Request to Pay has the potential to revolutionise how we discuss money and pay bills,” added Paul Horlock, CEO of Pay.UK.