CaixaBank and BBVA lead Europe’s first Request to Pay transaction

In a landmark development for European payments, CaixaBank and BBVA have successfully executed the region’s first live Request to Pay (RTP) transactions between banks.

Europe’s first Request to Pay transaction

Conducted in collaboration with Iberpay, the pilot marks a critical step forward in the evolution of instant, customer-centric digital payments across the continent.

The transactions, completed between April and May 2025, were carried out in a controlled ‘friends and family’ environment.

This ring-fenced trial serves to validate the practical functionality of RTP mechanisms ahead of a broader customer rollout.

Iberpay, Spain’s interbank payment system operator, is responsible for the underlying processing of the payments.

RTP enables a payee to initiate a payment request digitally, with funds transferred instantly once the payer accepts.

Operating 24/7, the service offers a compelling alternative to traditional invoicing and legacy collection methods such as non-recurring direct debits.

It also holds significant promise for streamlining business-to-business (B2B) transactions, including tax payments and other public sector charges.

The initiative is grounded in the SEPA Request to Pay (SRTP) scheme, which was first developed by the European Payments Council in 2020 to create a harmonised framework for RTP services across the Eurozone.

A revised version of the rulebook was released in November 2024, followed by updated implementation guidelines in April 2025.

The framework is designed to ensure interoperability and foster broader adoption of digital payment requests.

In a joint statement, CaixaBank and BBVA hailed the pilot as a major milestone in the digital transformation of Europe’s payments infrastructure.

“The introduction of RTP is set to fundamentally reshape how both individuals and organisations manage their payments,” said a spokesperson. “This innovation reflects our shared commitment to advancing secure, real-time financial services.”

Spain’s financial sector has long been regarded as a pioneer in payment innovation, and this latest development reinforces its leadership within the European digital payments landscape.

For a detailed review of the Spanish Payments Market CLICK HERE