Send Request Payer payment to Payee

"Request Payer" is the initial step in the process of a "Request for Payment" (RfP) where the payee initiates the payment request and Sends it to the payer. Here's how the process typically unfolds:

1. Request for Payment (RfP) Initiated by Payee:

• The payee, typically a vendor or service provider, initiates a Request for Payment (RfP) to request funds from the payer, usually a client or customer.
• The RfP includes details such as the amount owed, invoice number, payment due date, and any other relevant information.
• The RfP may be generated using invoicing software, accounting systems, or through a dedicated payment request platform.

2. Request Payer (Sending the Payment Request):

• The payee Sends the RfP to the payer, requesting payment for goods or services rendered.
• The RfP may be transmitted via email, electronic invoicing platforms, or through dedicated payment request systems.
• It serves as a formal communication from the payee to the payer, indicating the amount due and providing instructions on how to fulfill the payment.

3. Payer's Response:

• Upon receiving the RfP, the payer reviews the payment request and assesses its accuracy and validity.
• The payer may then take action to fulfill the payment obligation by initiating the payment using their preferred payment method.
• This could involve making a bank transfer, issuing a check, authorizing an ACH payment, or using other available payment options.

4. Payment Fulfillment:

• Once the payer initiates the payment, the funds are transferred from the payer's account to the payee's account.
• The payment is processed according to the chosen payment method, with the time frame varying depending on factors such as the payment system used and banking processing times.

5. Confirmation and Record-Keeping:

• Both the payer and payee receive confirmation of the payment transaction, which serves as a record of the payment for accounting and reconciliation purposes.
• This confirmation may be in the form of a payment receipt, email notification, or transaction statement from the payer's bank.

In summary, "Request Payer" marks the initial step in the Request for Payment process, where the payee formally requests payment from the payer, initiating the payment transaction. The payer then responds by taking the necessary steps to fulfill the payment obligation, leading to the completion of the payment transaction.