BNP Paribas has successfully launched its (inbound)  Request to Pay (RTP) solution in Hungary.

With the aim to provide Hungarian consumers and businesses access to an instant and efficient digital payment application option, BNP Paribas upgraded its systems to meet the requirements of the local Hungarian system. A separate overlay system (in addition to the payment system) needed to be implemented to allow customers to approve or reject payment request messages.

Payment requests, aimed at merchants, banks, acquirers and billers, has become an increasingly popular value-added service for real-time payments that enhances the  end-to-end customer experience: 

• The payee sends an RTP to the payer (business or consumer). 
• The payer receives the RTP, usually in the banking app.
• The payer can respond to the RTP by initiating an instant payment.  

When the instant payment is approved, funds are transferred within 5 seconds. 
Payers who choose not to use this service must inform the bank. Requests sent to non-participating accounts will be automatically rejected.
 

Being safe and secure, RTP brings more control and visibility to end consumers and businesses. This payment method is relatively less expensive than others, helping reduce costs and risks for users. In short, it brings real added value to customers.

As of 1 April 2024, all local Hungarian banks have been required to offer account holders the option of using this Request to Pay solution, ensuring swift and regulated money transfers for payment requests.

This initiative, supported by the Hungarian National Bank and the centralised financial infrastructure services in Hungary, not only improves convenience, but also sets a new standard for modern banking services in the country.