The invoicing party sends a digital payment request to the payer, which contains all the necessary data in the corresponding standardised format. Payers can transfer this data to their banking application with one click, so that the transfer then only needs to be authorised. Payment recipients can agree with their financial institution to receive a notification immediately upon acceptance of the RTP or upon receipt of funds.

So far, there are no established RTP solutions or big players on the market. Financial institutions and financial service providers should thus quickly make a fundamental decision about adding RTP services to their portfolios to use this potential. The integration of an appropriate future-oriented solution can bring visible success in terms of own market position and customer loyalty in a timely manner. Target group-focused solutions around RTP give financial institutions a noticeable edge in competition with FinTechs.

The entire payment process becomes quicker, simpler and less prone to error. The good thing for companies is that end-to-end digital invoicing processes save money. Depending on the number of invoices, this can quickly add up to millions. Small and medium-sized enterprises – previously more or less excluded from the few existing e-billing systems due to the costs – can finally benefit from the digital transformation in accounting. But there are also many advantages for the consumer: tedious transfer errors are no longer possible, the release of each individual payment increases transparency and even more payment methods may be available in the future.