Request to Pay, a new payment messaging service soon to be offered in the UK, could address payment friction. Instead of a paper bill, you’d be able to receive a payment request through an app on your phone, with the bill attached.

You could decide to pay some or all of it there and then, clicking a few buttons to connect to your preferred payment method. At the utility company, they can see your payment come in and know immediately what bill it corresponds to.

There’s no doubt that Request to Pay is a significant opportunity to create a more convenient, more flexible way for consumers to make payments, and a more efficient way for businesses collect them. The key challenge is how that opportunity is harnessed through a competitive market.

Catherine Ferguson, Client Director at Manifesto Growth Architects has written a helpful and thought provoking article on the commercial opportunity presented by Request to Pay – Read: Request to Pay: What is it and where’s the commercial opportunity.

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