A biller sends electronic invoices with ISO 20022 request-to-pay functionality for monthly payments from customers who do not wish to set up pre-authorized debits (PADs) from their bank account. Payment links in the e-invoices enable customers to initiate payments with data fields pre-populated with info about the payment (e.g., invoice number).
Use Case Benefit: Improved customer service
If a company makes a repetitive payment, a Telco can use the historical payment to match and automatically apply a payment by reconciling between bank deposit and email.
A Telco sends a payment request using ISO 20022 request-to-pay functionality to a customer for their monthly bill. The customer accepts by clicking on a payment initiation link in the message. A payment instruction is auto-populated with remittance information (e.g., customer/invoice number) that was part of the original payment request message. Funds are immediately transferred…