Faster Payments Council

SEPTEMBER 23, 2023

The RFP Customer Experience Work Group selected consumer-to-business bill pay as an initial use case, producing industry standards focused on this goal. Participating organizations will share insights gained and how they will implement these standards to catalyze instant payments adoption with a streamlined RFP customer experience.

FPC 88

FPC Federal Reserve RFP Faster Payments 88

Fintech Finance

MAY 8, 2024

It highlights the importance of features such as Request for Payment (RfP) and standing approval, providing a robust foundation for seamless and secure transactions in the dynamic landscape of instant payments. For those reasons, the FPC urges all system participants to adopt the recommendations in this report.”

Faster Payments 52

Faster Payments FPC Payments RFP 52

Faster Payments Council

JULY 21, 2020

In addition to presenting the benefits and drawbacks of the two models, the paper explores how Request for Payment (RfP) messaging could bring the best of both models together to help drive broader industry adoption, and ultimately transform the bill pay experience.

Faster Payments 68

Faster Payments FPC Research Consumer 68

PYMNTS

APRIL 2, 2019

BBP enables only payment of bills from participating businesses, meaning certain invoices cannot be reconciled. . They also provide request for payment (RFP) messaging that ensures eInvoice details, due dates and additional details are also immediately available, streamlining billing and payments in fields like utilities.

Real Time Payments 49

Real Time Payments RTP Payer Irrevocability 49

FICO

AUGUST 26, 2021

in addressable payment volume. Request for pay (RfP) . For a more wide-ranging discussion on options for all transaction participants to help prevent real time payments fraud, read Doug Clare’s blog, “ Real-Time Payments and Fraud – What Can be Done? Still, the US market lags in real-time payments size and adoption.

Real Time Payments 52

Real Time Payments Zelle Federal Reserve Wire Transfer 52

Nanonets

SEPTEMBER 21, 2023

Invited bid RFQs ensure that only selected vendors, who meet the buyer's criteria, are invited to participate, saving time and effort for both parties. Request for Proposal (RFP) A request for proposal, or RFP, is a more comprehensive document used when buyers have complex requirements or need solutions that go beyond pricing.

Best Practices 52

Best Practices RFP Request for Information Process 52

Nanonets

SEPTEMBER 22, 2023

Continuously monitoring vendor performance, addressing issues proactively, and having contingency plans in place contribute to a robust and resilient vendor management strategy. The RFP process allows businesses to compare and evaluate vendors based on standardized criteria.

Risk Mitigation 40

Risk Mitigation Mitigation Risk Assessment Assessments 40