Biller's login - Hosted Payments Page
Real-Time Payments Gateway


Last-Minute Payments

What is Last-Minute Payments

Real-Time Payments is an exciting new service brought about by the Faster Payments Initiative of the FedNow ™ US Federal Reserve providing payments that are instant, final and secure. FedNow, Last-Minute Payments and Real-Time instant payments, are defined simply as: Irrevocably collected funds in a bank account and usable immediately by the owner of the account. Our "Good Funds" payment gateway allows for instant real-time digital payments that are immediate, irrevocable, intra-bank and/or interbank account-to-account (A2A) transfers that utilize a real-time and text messaging system connected to every transaction participant through all U.S.-based financial institutions.

Receiving last-minute payments through real-time payments and the FedNow Service offers numerous features and benefits for companies (payees). Here are the key advantages:

Features and Benefits for Companies / Payees

Features

  1. Immediate Settlement:
    • Payments are received and settled instantly, reducing the time it takes for funds to become available.
  2. 24/7/365 Availability:
    • Real-time payments can be made and received at any time, including weekends and holidays, ensuring continuous cash flow.
  3. Real-Time Payment Confirmation:
    • Instant notifications and confirmations upon payment receipt, providing immediate visibility into transaction status.
  4. Enhanced Security:
    • Advanced security protocols protect against fraud and unauthorized transactions, ensuring safe and secure payment processing.
  5. Integrated Systems:
    • Integration with financial management tools (e.g., QuickBooks Online) for seamless tracking and reconciliation of payments.
  6. Flexibility in Payment Methods:
    • Ability to accept various payment methods (e.g., bank transfers, credit/debit cards) through real-time payment systems.

Benefits

  1. Improved Cash Flow:
    • Instant availability of funds improves cash flow management, allowing companies to utilize incoming payments immediately.
  2. Reduction in Late Payments:
    • Real-time payments minimize the risk of late payments, ensuring timely receipt of funds even if customers pay at the last minute.
  3. Enhanced Financial Planning:
    • Immediate visibility of payments helps in more accurate and timely financial planning and decision-making.
  4. Operational Efficiency:
    • Reduces the administrative burden associated with tracking and reconciling delayed payments, leading to greater operational efficiency.
  5. Better Customer Relationships:
    • Real-time payments improve the payment experience for customers, potentially leading to increased customer satisfaction and loyalty.
  6. Lower Risk of Payment Failures:
    • The immediate nature of real-time payments reduces the risk of payment failures and associated disputes.
  7. Cost Savings:
    • Reduces costs associated with late payment processing, such as collection efforts and financing costs due to cash flow gaps.
  8. Competitive Advantage:
    • Offering and receiving real-time payments can be a differentiator, attracting customers who value speed and efficiency in transactions.
  9. Enhanced Financial Control:
    • Real-time payments provide better control over incoming funds, allowing companies to manage their financial operations more effectively.
  10. Streamlined Reconciliation:
    • Integration with accounting systems allows for automatic and immediate reconciliation of received payments, reducing manual work and errors.

Conclusion

For companies and payees, the ability to receive last-minute payments through real-time payment systems like RTP and FedNow brings substantial benefits. These include improved cash flow, operational efficiency, reduced late payments, and enhanced financial planning. The features of instant settlement, 24/7 availability, and seamless integration with financial tools provide a robust framework for managing payments efficiently and securely.

Features & Benefits

FedNow instant payments has benefits for all parties involved in Financial Transactions.
Benefits to your company include:
Text Mobile Request for Real-Time Payment Money Transfer: Current limit of $500,000.
It's Final: All RTP and Instant Payments are Final & Irrevocable.
It's Fast: 24/7/365 access to funds anytime vs. several days for paper checks or ACH transfers to process.
Request for Payments ( RfP ™): Mobile & Online Real-Time Bill Payments.
Software Integration: Integrate your A/R & A/P Management or Enterprise software with us.
Message Detail: Full 145 characters available using ISO 20022 messaging XML format.
Online Down Payments: Don't use inconvenient and expensive Wires & Cashier's Checks.
Online Real-Time Reporting: Configured Dashboard with Virtual Terminal login.
Reduced calls / emails in the "Purchasing Chain": All parties to a instant payment transaction receive immediately text & email messaging.  The FedNow and RTP Systems enables Participants to initiate credit transfers, receive final and irrevocable settlement for credit transfers, and make available to Receivers funds associated with such credit transfers in real-time, twenty-four (24) hours a day, seven (7) days a week, fifty-two (52) weeks a year. All instant payments are "Credit Push" instead of "Debit Pull."

Creation Request for Payment Bank File

Call us, the .csv and or .xml FedNow or Request for Payment (RfP) file you need while on your 1st phone call! We guarantee our reports work to your Bank and Credit Union. We were years ahead of competitors recognizing the benefits of RequestForPayment.com. We are not a Bank. Our function as a role as an "Accounting System" in Open Banking with Real-Time Payments to work with Billers to create the Request for Payment to upload the Biller's Bank online platform. U.S. Companies need help to learn the RfP message delivering their bank. Today Payments' ISO 20022 Payment Initiation (PAIN .013) shows how to implement Create Real-Time Payments Request for Payment File up front delivering a message from the Creditor (Payee) to it's bank. Most banks (FIs) will deliver the message Import and Batch files for their company depositors for both FedNow and Real-Time Payments (RtP). Once uploaded correctly, the Creditor's (Payee's) bank continues through a "Payment Hub", will be the RtP Hub will be The Clearing House, with messaging to the Debtor's (Payer's) bank. Request for Payment

... easily create Real-Time 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.

Pricing with our Request For Payment Solutions

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 1) Free ISO 20022 Request for Payment File Formats, for FedNow and Real-Time Payments (The Clearing House) .pdf for you manually create "Mandatory" (Mandatory .csv or .xml data for completed ISO 20022 file) fields, start at page 4, with "yellow" highlighting. $0.0 + No Support


2) We create .csv or .xml formatting files using your Bank or Credit Union. Using your invoice information database to create an existing Accounts Receivable file, we CLEAN, FORMAT to FEDNOW or Real-Time Payments into CSV or XML. Create Multiple Templates. You can upload or "key data" into our software for File Creation of "Mandatory" general file. Use either the Routing Number and Account Number for your Customers or use "Alias" name via Mobile Cell Phone and / or Email address.

Fees = $57 monthly, including Activation, Support Fees and Batch Fee, Monthly Fee, User Fee. We add your URI for each separate Payer transaction for additional Payment Methods on "Hosted Payment Page" (Request for file with an HTML link per transaction to "Hosted Payment Page" with ancillary payment methods of FedNow, RTP, ACH, Cards and many more!) + $.03 per Transaction + 1% percentage on gross dollar file,


3) Add integrating QuickBooks Online "QBO" using FedNow Real-time Payment using our Last-Minute Payments system.

Fees Above 2) plus $29 monthly additional QuickBooks Online "QBO" formatting, and "Hosted Payment Page" and WYSIWYG


4) Above 3) plus Create "Total" (over 600 Mandatory, Conditional & Optional fields of all ISO 20022 Pain .013) Price on quote.

Each day, thousands of businesses around the country are turning their transactions into profit with real-time payment solutions like ours.

Contact Us for Real-time Payments processing