Simplify Payments with Aerapass Request to Pay (SEPA)
Key Takeaways
- SEPA Instant became mandatory for all eurozone banks in January 2025, with transactions completing in under 10 seconds.
- Europe processed over 2.4 billion instant payments in 2025, with volume growing rapidly post-mandate.
- India’s UPI leads globally with over 16.9 billion transactions in January 2025 alone - roughly 49% of global real-time payments.
- FedNow surpassed 1,200 participating financial institutions by early 2026, though adoption is still ramping.
- Request to Pay adds a structured request layer on top of instant payment rails, enabling automated billing workflows.
What Is Request to Pay (R2P) and How Does It Work?
Request to Pay is a standardised messaging framework defined by the European Payments Council that allows a payee (business or individual) to send an electronic payment request to a payer, who can then review, approve, decline, or request more time - all within their banking app. Unlike a direct debit, where the payee initiates the collection with pre-authorised consent, R2P puts the payer in control of each transaction. Settlement happens instantly via underlying real-time payment rails (SEPA Instant in Europe, or equivalent domestic systems). R2P is not a payment method itself - it is a communication layer that sits on top of existing instant payment infrastructure.
In today’s digital economy, the expectation is clear: payments should be instant, transparent, and frictionless. Request to Pay services represent the next evolution - adding a structured communication layer on top of real-time payment infrastructure that allows businesses to send electronic payment requests directly to their customers.
The Real-Time Payment Revolution
Request to Pay operates on top of instant payment infrastructure. Understanding the global real-time payment landscape explains why RTP services are gaining traction.
Real-Time Payment Systems Worldwide
| System | Country/Region | Launch | Monthly Volume (2025) | Speed | Key Feature | Source |
|---|---|---|---|---|---|---|
| UPI | India | 2016 | 16.9B transactions (Jan 2025) | Instant | 49% of global real-time payments | NPCI |
| Pix | Brazil | 2020 | 3.7B transactions | Instant | 150M+ users | Banco Central do Brasil |
| SEPA Instant | Eurozone (36 countries) | 2017 | 200M+ transactions | <10 seconds | Mandatory from January 2025 | ECB |
| FedNow | United States | 2023 | ~700K transactions (Q2 2025) | <20 seconds | 1,200+ FIs enrolled | Federal Reserve |
| PayNow/FAST | Singapore | 2014/2017 | N/A | Instant | Linked to UPI (cross-border) | MAS |
| NPP | Australia | 2018 | N/A | <15 seconds | PayID addressing | RBA |
Sources: NPCI (India), Banco Central do Brasil, ECB, Federal Reserve FedNow quarterly statistics. Data current as of early 2026.
The trajectory is unmistakable. India’s UPI processed 16.99 billion transactions in January 2025 alone - a number that dwarfs every other system combined. Brazil’s Pix achieved extraordinary adoption, reaching 150 million users and 3.7 billion monthly transactions by 2026. In Europe, the January 2025 SEPA Instant mandate required all eurozone banks to accept instant euro payments, with transactions completing in under ten seconds or facing penalties.
The United States is the notable laggard. FedNow surpassed 1,200 participating financial institutions by early 2026, but actual transaction volume remains modest - 2.1 million payments in Q2 2025. Adoption is growing almost 50x since FedNow’s first full quarter, but the US real-time payment ecosystem is years behind Asia and Europe.
How Request to Pay Works
Request to Pay is a standardised payment initiative built on top of SEPA infrastructure. It allows businesses to send structured electronic payment requests to their customers, who can then review, approve, and settle the payment through their banking app or payment platform.
The key difference from a traditional invoice: RTP creates a two-way communication channel. The payer receives a request with all payment details pre-populated, reviews it, and approves with a single action. Platforms with robust payer verification and mandate management ensure compliance throughout this workflow. Settlement happens instantly via the underlying real-time payment rails.
Use Cases for Aerapass RTP Services
E-commerce businesses. Online businesses can integrate Aerapass Request to Pay to send payment requests directly to customers’ devices. This simplifies the purchasing process, reduces cart abandonment rates, and enhances the customer experience. With customisable payment requests and multiple payment options, Aerapass enables seamless transactions and improved sales conversions.
Subscription-based services. Financial institutions, membership clubs, and SaaS platforms can leverage Aerapass RTP for recurring payments. Automated payment requests sent at regular intervals ensure timely collections and reduce administrative burden. Customers choose their preferred payment method, improving retention rates.
Service providers and B2B billing. Service providers can send detailed payment requests directly to client devices. Customers review bills and make payments conveniently, reducing late or missed payments. Aerapass supports integration with existing billing systems, ensuring accurate and efficient invoice generation.
Start using Request to Pay and SEPA services on the Aerapass platform
Peer-to-peer payments. Aerapass RTP also supports peer-to-peer use cases - splitting expenses, sharing travel costs, or settling payments among colleagues. Structured payment requests eliminate the ambiguity of informal money transfers.
Why RTP Matters for Cross-Border Platforms
The convergence of instant payment rails creates an opportunity for platforms that can bridge multiple systems. A platform operating across Europe (SEPA Instant), Singapore (PayNow/FAST), and other jurisdictions can offer Request to Pay functionality that works across borders - provided the underlying infrastructure supports multi-rail connectivity.
For businesses, the value proposition is straightforward: faster collections, lower processing costs, reduced reconciliation effort, and improved customer experience. For the financial system, RTP reduces the float that traditional payment methods rely on, accelerating cash conversion cycles across the economy.
Frequently Asked Questions
How Does SEPA Request to Pay Differ from Direct Debit?
The key difference is control. With SEPA Direct Debit, the payee initiates the collection using a pre-authorised mandate - the payer’s bank debits their account automatically. With Request to Pay, the payee sends a request but the payer must actively approve each payment before funds move. This gives payers visibility and control over every transaction, reducing disputes and failed collections. R2P also supports decline with reason and request deferral - options not available in standard direct debit. For businesses, R2P reduces failed collection rates because payers have reviewed and approved each amount before settlement occurs.
Aerapass: Revolutionising the eInvoice
The content on this page is produced by Aerapass for general informational purposes only and does not constitute financial advice, investment advice, or any other form of professional advice. Aerapass is a technology platform provider serving financial institutions, wealth managers, and fintech companies. Before making any financial decision, you should consult with a qualified, licensed financial advisor who can take your individual objectives and circumstances into account.
