FedNow® Real-Time Payments for High-Risk Businesses

What Are RTP® and FedNow® Real-Time Payments?

Instant B2B Payments with FedNow® and RTP®

RTP® and FedNow®: The Future of Real-Time Payments vs. Credit Cards, ACH & Wires

RTP® (Real-Time Payments) and FedNow® are the two leading real-time payment systems in the U.S., enabling instant, 24/7/365 transactions that settle in seconds—eliminating the delays of credit cards, ACH, and wire transfers.

• RTP® (Real-Time Payments) is operated by The Clearing House (TCH) and primarily serves larger financial institutions.
• FedNow® is a Federal Reserve initiative, designed to be widely accessible to all U.S. banks and credit unions.

Both RTP® and FedNow® are disrupting legacy payment schemes, offering faster, more secure, and cost-effective alternatives to traditional methods like ACH, wire transfers, and credit card processing.

Why RTP® & FedNow® Are the Future of Payments

✅ 1. Instant Payments, 24/7/365

• No delays—settlements happen in seconds, anytime, even on weekends and holidays.
• Unlike ACH and wire transfers, real-time payments are always available.

✅ 2. Lower Transaction Costs vs. Credit Cards & Wires

• FedNow® and RTP® transactions cost significantly less than wire transfers.
• No interchange fees (2.5%–3.5%) like credit card payments.

✅ 3. Secure & Final Transactions (No Chargebacks)

• Both RTP® and FedNow® transactions are final and irreversible, preventing chargebacks.
• Advanced security measures protect against fraud and unauthorized payments.

✅ 4. Faster Cash Flow & Liquidity Management

• Businesses receive funds instantly, eliminating cash flow delays.
• No waiting for ACH or credit card settlements (which can take days).

✅ 5. Ideal for B2B, Payroll & High-Value Transactions

• Eliminates supplier payment delays.
• Perfect for payroll, contractor payments, and recurring invoices.

RTP® vs. FedNow® vs. Legacy Payment Methods: Cost & Speed Comparison

Feature	RTP® (Real-Time Payments)	FedNow® Real-Time Payments	ACH Transfers	Wire Transfers	Credit Card Payments
Operator	The Clearing House	Federal Reserve	Bank Networks	SWIFT & Bank Networks	Visa/MasterCard
Speed	Instant (seconds)	Instant (seconds)	1–3 business days	Same-day (cutoff restrictions)	1–3 business days
Availability	24/7/365	24/7/365	Business hours only	Business hours only	Business hours only
Transaction Fees	Lower than wires & credit cards	Lower than wires & credit cards	Low, but slower	High ($15–$50 per transfer)	2.5%–3.5% + fees
Settlement Finality	Immediate & irreversible	Immediate & irreversible	Can be reversed	Final	Can be disputed
Best For	B2B, payroll, supplier payments, high-value transactions	B2B, payroll, small & mid-sized businesses	Recurring batch payments	Large, one-time international transactions	Consumer transactions

FedNow® vs. RTP®: What’s the Difference?

Feature	FedNow®	RTP® (Real-Time Payments)
Operator	Federal Reserve	The Clearing House
Bank Network	Open to all U.S. banks & credit unions	Limited to TCH network banks
Transaction Limits	Up to $500K per transaction (bank-dependent)	Up to $1M per transaction
Best For	Small & mid-sized businesses, broad accessibility	Larger banks, high-value B2B payments

Which One Should You Use?

✅ Use FedNow® if you need real-time payments accessible at any U.S. financial institution.
✅ Use RTP® if your bank is part of The Clearing House and you require higher transaction limits.
✅ Use an interoperable payment processor if you want access to both networks.

Why RTP® & FedNow® Are Replacing Legacy Payment Systems

🚀 Replacing Credit Cards in B2B & Payroll

• No interchange fees—businesses can save 2.5%–3.5% per transaction.
• Faster than card settlement, which can take days to process.

🚀 Replacing ACH for Faster, More Secure Transactions

• ACH takes 1–3 business days—FedNow® and RTP® process instantly.
• No risk of insufficient funds like ACH reversals.

🚀 Replacing Wire Transfers with Cost-Effective Real-Time Payments

• Wire transfers cost up to $50 per transaction, while RTP® & FedNow® are significantly cheaper.
• Same-day wire transfers require cut-off times, whereas FedNow® & RTP® operate 24/7.

Who Should Adopt RTP® & FedNow® Real-Time Payments?

📌 B2B & Enterprise Transactions – Avoid ACH and wire delays for faster supplier payments.
📌 Payroll & Contractor Payments – Pay employees and freelancers instantly, no bank cut-offs.
📌 E-commerce & Online Businesses – Accept real-time payments without credit card fees.
📌 Intercompany Transfers – Move funds between business accounts instantly, with low transaction costs.
📌 Financial Institutions & Payment Processors – Expand real-time payment offerings to customers.

How to Get Started with RTP® & FedNow® Real-Time Payments

🔹 Check with Your Bank or Payment Processor – Ensure your financial institution supports FedNow®, RTP®, or both.
🔹 Compare Pricing & Transaction Fees – Use a real-time payment calculator to see potential cost savings.
🔹 Set Up a Real-Time Payment-Enabled Business Account – Work with your bank to activate FedNow® or RTP® for instant transactions.
🔹 Integrate with ERP & Accounting Systems – Use QuickBooks®, NetSuite, SAP, or other financial tools for automation.
🔹 Train Your Team – Educate employees on how FedNow® and RTP® improve transaction efficiency.

🚀 Upgrade your business payments with RTP® & FedNow® today! Contact us below to enable real-time transactions and optimize financial operations.

Creation Request for Payment Bank File

Enhance Your RTP FedNow 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.

... 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.