Innovation in the European financial world
BBVA has launched an innovative proposal that could radically transform the way the transactions between banking entities in Europe are executed. Together with CaixaBank, they have started a pilot project that explores the SEPA Request to Pay (SRTP) system, a solution that promises to change the rules of the game in the field of instant payments.
The SRTP: A new paradigm in payments
The SRTP system, promoted by the European Payment Council (EPC), allows both individuals and companies to make digital paid applications through its banks. These applications may be accepted or rejected by the receiver, and if accepted, the payment is processed immediately, working 24 hours a day, 7 days a week.
An ideal complement to instant transfers
This new solution is presented as a complement to traditional instant transfers, adding a layer of flexibility and efficiency in the management of collection. Pilot tests that are being performed during April and May 2025, in collaboration with Iberpay, seek to evaluate the effectiveness of the system in a real environment.
Advantages for companies and consumers
The SRTP not only benefits companies in managing their collections, but also improves the experience of consumers, who will gain more control over their payments. This innovation reduces waiting times and provides a safer and more transparent payment experience.
The future of the SRTP system
If the results of the pilot tests are satisfactory, the SRTP system could be available to the public in the near future. Its implementation will depend on the analysis of the results obtained during the tests and the necessary adaptation of the bank infrastructures.
BBVA’s commitment to innovation
BBVA has stated a firm commitment to innovation and the improvement of banking services. The institution sees SRTP as an essential tool for providing more efficient and safe payment solutions, emphasizing the importance of collaboration between financial institutions such as CaixaBank to promote common standards that benefit the European financial ecosystem.
A step forward in financial digitization
With this pilot project, BBVA and CaixaBank set a historical moment in the evolution of digital payments in Europe. If the tests confirm the viability of the system, we could be dealing with a drastic change in the way we manage our daily payments.
