No More Chasing Payments: Get to Know BiMPay’s Request to Pay

With BiMPay, the Central Bank of Barbados’ new national instant payment system now powering all electronic transfers between local commercial banks and the three largest credit unions (Barbados Public Workers Cooperative Credit Union, City of Bridgetown (COB) Credit Union, and AffinityPlus Credit Union), you might be asking yourself: What’s the point of also downloading the BiMPay e-wallet? 

After all, you’re already getting the benefit of your transactions being completed within 10 seconds and of immediate settlement, which allows you to use your money as soon as you receive it. 

What, then, does the e-wallet offer?

The answer is: all of that plus additional features that make sending and receiving money more efficient and convenient. One of those features is request to pay, or RtP.

What is Request to Pay?

As the name suggests, request to pay lets you ask someone to send you money. Here’s how it works. 

On the home screen of the BiMPay e-wallet app, there’s a “Request” button. Clicking that button allows you to generate a QR code that someone can scan and then pay you the amount you’re requesting. 

Alternatively, you can send a message to one of your contacts asking them to pay you a specific amount of money. Once they agree, the money is transferred to your account. With both options, you can include a note indicating the reason for the request.

What’s Request to Pay Good For?

RtP is a great feature for small businesses and self-employed people who provide services to their clients. 

Imagine you own a small boutique, or maybe you have a stall in the market where you sell produce, and a customer comes and purchases multiple items. 

Instead of having them scan a static QR code and enter the amount themselves – “How much the total was again?” – you could use the RtP QR code option and input the figure so all they have to do is scan and approve the payment. 

Or, perhaps you’re a gardener, handyman, or housekeeper who gets paid per visit. You’ve finished the job, but the person who you’re doing the work for isn’t home. Rather than having to wait around for them to get back or sending them a WhatsApp to let them know how much they owe you so they can transfer the money, you could just select them from your contacts and send them a request to pay. 

The request and the transfer are both handled within one app. Not to mention, by using the memo line, you can capture exactly what the payment was for, which is great for record keeping.

But request to pay isn’t only useful for small entrepreneurs. It has everyday uses, too. Let’s say you and a group of friends go out to dinner and the restaurant has a limit of one bill per table. You decide to pay for everyone and get reimbursed afterwards. Once you’ve calculated how much each person owes you, you simply send them an RtP for the amount. They get it, they pay you, bill settled. It’s also a discreet nudge for that friend who always intended to pay you but forgot.

There’s no question that the BiMPay rail, the underlying infrastructure that facilitates electronic transactions, is good on its own. After all, who doesn’t want faster transactions and immediate access to their money? 

But the BiMPay e-wallet offers something extra: easier transactions and greater convenience when it comes to sending and receiving money. One of those features is request to pay, so download the e-wallet and start using it today.