Focus on Request-to-Pay, with Ramzi Dziri
Partelya Consulting recently released its latest report crafted by Andréa Toucinho, entitled “Enjeux et perspectives pour l’Europe des paiments” – focusing on the latest challenges of the payments industry in Europe. Our Open Banking Product Manager and digital payments expert Ramzi Dziri took part in it, sharing his knowledge and discussing LUXHUB’s ambition with regards to Request to Pay. Below, an extract of his contribution/interview.
“Fintechs with a focus on Open Banking, like LUXHUB, are constantly looking for innovations that could superboost their solutions. Request to Pay appeared to us as a key opportunity and we therefore started developing analyses and working on several use-cases,” first commented Ramzi.
These analyses are based on the synergies between Request to Pay and Open Banking-powered payments: “it also includes promoting the solution and educating merchants by sharing our knowledge and common reflection on the technical perspectives, selling models and different use cases linked to this innovation.”
According to the Open Banking expert, “in Luxembourg, we think Request to Pay has an important potential in the BtoC/CtoB sphere, more than in BtoB”.
When it comes to use cases, Ramzi Dziri is convinced that RTP has a great potential in journeys where the consumer does not have to pay when he gets the service, which therefore excludes e-commerce. Request to Pay can then be adapted to the context of ‘telecommerce’ or liberal professions (doctors, lawyers, etc.) where the payment can be delayed. He adds: “Here is another interesting use case: buy now pay later, or more generally more payment options that enable the payment of the product/service after purchase.”
He also explains that Request to Pay will naturally converge towards Open Banking, creating a new step in the evolution of payments. This also depends on the harmonization of the European market: “solutions and habits are different in each country, even in neighboring European countries, but with Open Banking being a vector of convergence, Request to Pay combined to this paradigm could become a leading solution within the pan European ecosystem. This will actually benefit merchants looking for a unique solution that could be used in all member states”.
Source: Partelya Consulting