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


FedNow Instant Payment Solution

What is FedNow Instant Payment Solution

FedNow, Instant Payment Solution 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.

"FedNow Services, an instant payment solution, are utilized by over 8,000 financial institutions."

Using FedNow Services for Instant Payments

FedNow Services Overview:

  • FedNow is a real-time payment service developed by the Federal Reserve.
  • It provides instant fund transfers between financial institutions, operating 24/7/365.
  • FedNow enhances cash flow, reduces payment delays, and improves overall financial management.

Benefits of Using FedNow Services

  1. Immediate Payments:
    • Funds are transferred and made available instantly.
    • Supports urgent transactions where speed is critical.
  1. Broad Network:
    • Over 8,000 financial institutions use FedNow, ensuring wide coverage and interoperability.
  1. Enhanced Cash Flow:
    • Businesses receive funds immediately, improving liquidity and financial planning.
    • Reduces days sales outstanding (DSO) and enhances working capital management.
  1. Payment Certainty:
    • Immediate confirmation of payments reduces the uncertainty associated with traditional payment methods.
    • Minimizes the risk of late payments or defaults.
  1. Operational Efficiency:
    • Automated payment processes streamline accounts receivable.
    • Reduces administrative workload and the need for manual follow-ups.

Implementing FedNow Services with QuickBooks Online (QBO)

Step-by-Step Guide:

  1. Select a Payment Processor:
    • Choose a payment processor that supports FedNow and integrates with QBO.
    • Ensure they provide the necessary API keys and credentials for integration.
  1. Integrate with QBO:
    • Access the “Payments” section in QBO settings.
    • Set up FedNow as a payment method by entering the required API keys and credentials.
    • Test the integration to ensure seamless operation and accurate payment processing.
  1. Set Up Instant Payments:
    • Enable instant payments in QBO for invoices and recurring payments.
    • Customize your invoicing system to include instant payment options via FedNow.
  1. Educate Customers:
    • Inform your customers about the new payment option and its benefits.
    • Provide clear instructions on how to make instant payments using FedNow.
  1. Monitor and Optimize:
    • Track the performance of FedNow payments.
    • Gather feedback and make necessary adjustments to improve the payment process.

Summary

Utilizing FedNow Services for instant payments provides significant advantages for businesses, including immediate fund availability, enhanced cash flow, operational efficiency, and payment certainty. Integrating FedNow with QuickBooks Online can streamline financial operations and improve overall payment management, benefiting both businesses and their customers.

 

Creation Request for Payment Bank File

Text Mobile Request for Payment 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 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 Instant Payment Solution 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 Request For Payment payment processing