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


Recurring Real-Time Payments

What is Recurring Real-Time 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, Recurring Real-Time 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.

Implementing real-time payments to automatically pay recurring invoices, now referred to as "Request for Payment" (RFP), from payers to payees using texting, email, or digital communication for ACH, credit cards, FedNow, and RTP Real-Time Payments involves leveraging technology and integrating with payment systems that support real-time transactions. Here's how you can set it up:

  1. Setup RFP in Accounting Software:
    • Create recurring invoices or RFPs in your accounting software (such as QuickBooks), specifying the payment amount, frequency, and duration.
  1. Communication Channels:
    • Utilize texting, email, or digital communication platforms to send RFP notifications to customers. Include a link or button for customers to authorize and initiate real-time payments directly from the communication.
  1. Payment Options:
    • Offer multiple payment options including ACH, credit cards, FedNow, and RTP Real-Time Payments. Ensure that your systems are capable of processing these payment methods in real-time.
  1. Integration with Payment Gateways:
    • Integrate your accounting software with payment gateways that support real-time payment processing for ACH, credit cards, FedNow, and RTP. Ensure that the integration allows for seamless and secure payment transactions.
  1. Authorization and Consent:
    • Include clear instructions for customers to authorize real-time payments for RFPs through the communication channels. Obtain explicit consent from customers to initiate payments automatically.
  1. ACH Setup:
    • For ACH payments, securely store customers' bank account information and set up automated ACH transfers that process in real-time.
  1. Credit Card Processing:
    • For credit card payments, securely store customers' credit card information and set up automated credit card charges that process in real-time.
  1. FedNow and RTP Integration:
    • Integrate your systems with FedNow and RTP Real-Time Payments networks if available. Ensure that your bank accounts support real-time payment processing and integrate with your accounting software for seamless reconciliation.
  1. Confirmation and Receipts:
    • Send immediate confirmation notifications or receipts to customers via email, text message, or digital communication once real-time payments are successfully processed. Include details of the transaction for transparency.
  1. Reconciliation and Reporting:
    • Regularly reconcile real-time payments received against the RFPs issued in your accounting software. Utilize reporting tools to track payment activity, outstanding balances, and financial performance in real-time.
  1. Customer Support:
    • Provide customer support services to assist customers with any issues related to real-time payments, RFPs, or payment processing. Ensure that customers have access to support channels for assistance with real-time inquiries.

By implementing these steps and leveraging technology to facilitate real-time payments, businesses can automate the process of paying recurring invoices (RFPs) from payers to payees, ensuring efficiency, accuracy, and convenience for all parties involved.

 

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 Recurring Real-Time 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