Real-Time Payments Gateway


How FedNow® Payee Works with Request for Payment (RfP) & Multi-Bank Aliases


Understanding FedNow® Payee's RfP for Instant & Secure Payments

FedNow® FedNow Payee
FedNow® Payee – Request for Payment (RfP) with MOTO, POS, Batching & Recurring Payments

Prologue: The Evolution of Instant Digital Payments for Businesses

Payment processing is evolving faster than ever, and businesses need secure, real-time, and error-free methods to request and receive payments across multiple banks and accounts.

🔹 Tired of managing multiple payment accounts for MOTO, POS, and online transactions?
🔹 Struggling with delayed settlements and high transaction fees?
🔹 Looking for a way to automate one-time, recurring, and batch payments instantly?

With FedNow® Payee's Request for Payment (RfP) service, businesses can use multiple aliases (email or phone) linked to multiple bank accounts to streamline payment collection for B2B, C2B, and B2C transactions. The FedNow Hub filters ensure that payments are always routed correctly to the right bank account, reducing payment failures and optimizing cash flow.

💡 Imagine a payment system where you can accept one-time and recurring payments instantly, across multiple accounts and banks, without worrying about delays or incorrect routing.

Real-TimePayments.com shows how FedNow® Payee's RfP service supports MOTO, POS, batching, and variable recurring transactions while ensuring businesses receive payments instantly and securely.

Attributes of FedNow Payee for your business using instant payments

FedNow® Payee's Request for Payment (RfP) service enables businesses to request and receive payments instantly using aliases (email or phone numbers) instead of complex bank account details.

This ensures:

Faster transaction processing with real-time settlements.
Increased security by reducing the need to share sensitive banking details.
Automatic routing of payments through the FedNow Hub to the correct bank account.

How the FedNow Hub Ensures Payments Reach the Correct Bank Account

1️ A business sends a payment request via FedNow® Payee using an alias (email or phone).
2️ The payer receives the RfP notification and approves the transaction.
3️ The FedNow Hub verifies the alias and ensures the payment is routed to the correct bank account.
4️ The transaction is processed instantly—funds are settled in seconds.
5️ Payments can be reconciled automatically with accounting systems.

💡 This process eliminates chargebacks, manual processing errors, and long settlement times.


Ask us how:

How businesses can use FedNow® Payee for instant invoicing with multiple bank accounts.
How MOTO and POS businesses can benefit from FedNow® Payee Request for Payment (RfP).
Best way to automate batching and recurring payments using FedNow® and RTP®.
How FedNow® Payee eliminates chargebacks and improves cash flow management.


Why Businesses Should Use FedNow® Payee for Payments

1. Accept Payments via Multiple Methods (MOTO, POS, Batching, Recurring)

🚀 Mail Order/Telephone Order (MOTO): Accept secure payments over phone and email.
💳 Point-of-Sale (POS): Process real-time transactions at retail locations.
🔄 Batching: Automate bulk payment processing for multiple transactions.
📆 Variable Recurring Payments: Collect subscriptions or recurring invoices without delays.

2. Multiple Aliases for Multi-Bank Flexibility

🏦 Link multiple email addresses and phone numbers to different bank accounts.
🔀 Automatically route payments to the correct account based on transaction type.

3. Instant, Real-Time Payments for B2B, C2B, and B2C

B2B: Process vendor payments instantly, reducing delays and improving supply chain efficiency.
C2B: Allow customers to make payments in real-time without card processing fees.
B2C: Automate payroll, refunds, and payouts without banking delays.

4. 24/7/365 Payment Processing – No Banking Restrictions

Unlike ACH or wire transfers, which have cut-off times, FedNow® Payee enables payments 24/7.

5. Eliminates Chargebacks & Reduces Fraud

🔒 Since transactions require payer approval, fraudulent chargebacks are virtually eliminated.
Payments are secure and final, preventing revenue loss.


FedNow® vs. Traditional Payment Methods – A Game-Changer for Businesses

Comparison Table: FedNow® vs. ACH vs. Credit Cards

Feature

FedNow® Payee (Request for Payment)

ACH Transfers

Credit Cards

Processing Speed

Instant (Seconds)

1-3 Business Days

1-3 Business Days

Chargebacks Allowed?

No

Possible Reversals

Yes

Transaction Fees

Low or None

Varies by Bank

2-5% Per Transaction

Availability

24/7/365

Business Days Only

24/7, but slow settlement

Best Use Cases

B2B, C2B, B2C Payments

Recurring Payments

Consumer Retail

 

💡 Key Takeaway: FedNow® Payee provides an instant, cost-effective, and chargeback-free alternative to traditional payment processing.


How to Get Started with FedNow® Payee for Instant Payments

Step-by-Step Guide to Enabling FedNow® Payee & RfP:

Step 1: Ensure Your Business Bank Supports FedNow®.
Step 2: Register Multiple Email Addresses & Phone Numbers as Aliases.
Step 3: Link Each Alias to the Correct Bank Account.
Step 4: Enable Request for Payment (RfP) in Your Payment System.
Step 5: Start Sending & Receiving Instant Payments for MOTO, POS, Batching, & Recurring Transactions.

🔹 Once set up, businesses can streamline invoicing, optimize cash flow, and eliminate payment delays.


Upgrade to FedNow® Payee with TodayPayments.com

💡 Are you still using slow, outdated payment methods? It’s time to switch to FedNow® Payee for instant, secure payments!

Retailers & Service Providers: Accept real-time payments with MOTO & POS.
Subscription Businesses: Automate recurring billing without delays.
Small Business Owners: Receive batch payments instantly, improving cash flow.
Banks & Financial Institutions: Offer your customers the most advanced instant payment solution.

🔹 With TodayPayments.com, businesses can integrate FedNow® Payee for faster, more secure transactions across multiple banks.

🚀 Sign up at TodayPayments.com today and start accepting secure, alias-based payments!

Creation Request for Payment Bank File

Enhance Your FedNow Payee Payment Requests with FedNow’s ISO 20022 Messaging

Streamline Payments with Advanced Request for Payment Options:

Harness the power of FedNow's Request for Payment system to transform how you manage invoices and remittances. Our platform supports diverse data integration options, allowing payees to incorporate detailed invoice data directly within the RfP message or link to a comprehensive Merchant Page.

Flexible Invoice Details with ISO 20022 Messaging:

Leverage the flexibility of ISO 20022 messaging standards in our RfP system. You can choose to display crucial payment details directly in the message with a concise 140-character description, or through a dynamic "Hyper-Link" leading to a detailed Merchant Page. This Merchant Page can be hosted either on your website or TodayPayments.com/HostedPaymentPage.html through our seamless integration solution.

Customizable Merchant Pages for Enhanced Customer Experience:

Create a Merchant Page that not only details all the MIDs you own but also presents these options attractively to your customers through the RfP. This customization ensures that whether your payer opts for Real-Time Payment, Same-Day ACH, or Card transactions, they can easily navigate and complete their payments through a simple click on the hyperlink provided on your Merchant Page.

Call us today and receive the .csv or .xml FedNow® or Request for Payment (RfP) file you need—all during your very first phone call! We guarantee that our comprehensive reports integrate flawlessly with your bank or credit union. As pioneers in recognizing the benefits of RequestForPayment.com, we have stayed years ahead of our competitors. Although we are not a bank, our role as an "Accounting System" within the Open Banking ecosystem enables us to work with billers to create effective RfP files that seamlessly upload to the biller's online banking platform. U.S. companies rely on our expertise to learn how to deliver the RfP message directly to their bank with precision.

Our advanced solution, Today Payments' ISO 20022 Payment Initiation (PAIN.013), demonstrates how to create a Real-Time Payments Request for Payment file that sends a clear message from the creditor (payee) to its bank. Most financial institutions support the import of messaging and batch files for both FedNow® and Real-Time Payments (RtP), ensuring smooth processing. Once the file is correctly uploaded, the creditor’s bank processes the payment through a secure "Payment Hub"—with The Clearing House serving as the RtP Hub—and relays the message to the debtor's (payer's) bank. This streamlined approach not only accelerates transaction processing but also enhances transparency and reliability for all parties involved.

Request for Payment



... easily create Instant Payments RfP files. No risk. Test with your bank and delete "test" files before APPROVAL on your Bank's Online Payments Platform. Today Payments is a leader in the evolution of immediate payments. We were years ahead of competitors recognizing the benefits of

Same-Day ACH and Real-Time Payments funding. Our business clients receive faster availability of funds on deposited items and instant notification of items presented for deposit all based on real-time activity. Dedicated to providing superior customer service and industry-leading technology.



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