Fintech Finance

AUGUST 15, 2024

In addition to providing support for sending instant payments, Modern Treasury also supports the ability to access the “Request for Payment (RFP)” capability at a growing number of banks. With the rise of new payment use cases and heightened customer expectations, the demand for faster payments in the U.S. is growing.

Instant Payments 105

Instant Payments Treasury RFP RTP 105

PYMNTS

APRIL 2, 2019

RTP has showcased its ability to help customers pay providers for received services, but such systems offer more than immediate, final and irrevocable transactions. Real-Time Utilities Payments . This also aids the treasury teams tasked with tracking payments.

Real Time Payments 49

Real Time Payments RTP Payer Irrevocability 49

Nanonets

SEPTEMBER 1, 2023

As transactions are irrevocable, the need for vendor confirmation is eliminated, simplifying and hastening the reconciliation process within your system. Seamless Requests for Payments (RFP): Vendors can now submit precise bill requests, streamlining the validation and approval process with a simple click.

FedNow 52

FedNow Wire Transfer Federal Reserve ACH 52

Seon

JULY 27, 2023

The bank of the soon-to-be-paid employee sends back a request for payment (RFP) via the FedNow Service for the payer to confirm the transaction on their app. In fact, the transactions themselves are irrevocable. This is alongside small per-transaction fees, including those for the initial request for payment (RFP) messages.

FedNow 40

FedNow Federal Reserve ISO 20022 Fraud Detection 40