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

The Paypers

SEPTEMBER 27, 2023

Federal Reserve has released market practices to advance standardised implementation of the request for payment (RFP) feature of instant payments.

Federal Reserve 41

Federal Reserve RFP Request for Payment Instant Payments 41

Core

APRIL 10, 2024

No need to send out requests for RFPs, read each RFP, or manage any back and forth between agency and potential vendors. Vetted contracting process Outside of the long and complicated RFP process, agencies that work with Sourcewell can also skip the complex task of vetting contracts with new technology partners.

Government 52

Government Governance Process RFP 52

The Paypers

AUGUST 7, 2023

The Clearing House ’s RTP Network has announced the expanded availability of its Request for Payment (RfP) capability.

Request for Payment 36

Request for Payment RTP RFP Payments 36

Faster Payments Council

JULY 20, 2020

The paper also explores how Request for Payment (RfP) messaging could bring the best of both models together to help transform the bill pay experience and the various barriers to adoption of faster payments in consumer bill pay.

Faster Payments 68

Faster Payments RFP Consumer Request for Payment 68

Nanonets

SEPTEMBER 23, 2023

By issuing an RFP, organizations can outline their project requirements, allowing potential suppliers to submit proposals that detail their capabilities, approach, and cost. When creating an RFP, it is crucial to clearly define the  project scope , objectives, and deliverables.

Gateways 52

Gateways RFP Value Added Service Compliance 52

PYMNTS

SEPTEMBER 11, 2020

For example, in April 2020 a RaaS (Ransomware as a Service) group called Sodinokibi (a former affiliate with the GrandCrab RaaS group) stated that future ransom request payments will be in Monero (XMR) rather than bitcoin (BTC) due to transaction privacy concerns," the agency states in its RFP.

IRS 96

IRS Cryptocurrency RFP Law Enforcement 96

Fintech Finance

JANUARY 30, 2024

15% identified ‘Request for Pay’ (RfP) as a major profit opportunity. The panel commented that most bankers are missing a major opportunity for bank customers to request and send payments instantly using RfP, and as a result, miss the opportunity to automate invoices and bill payments through their digital banking experience.

FedNow 52

FedNow Instant Payments RFP Payment APIs and Integration 52

PYMNTS

JANUARY 26, 2021

Waterhouse said the big evolution for the year ahead will involve taking what are now typically debit transactions like check or automated clearing house (ACH) debit and migrating those to the RTP network combining a Request for Payment (RfP) with a consumer authenticated RTP payment.

Real Time Payments 109

Real Time Payments RTP RFP TCH 109

The Paypers

NOVEMBER 17, 2021

US Bank has expanded its Request for Payment (RfP) services to help billers provide a better bill payment experience to customers.

Request for Payment 31

Request for Payment RFP Payments 31

CB Insights

NOVEMBER 23, 2021

Workday has been growing organically, acquiring Zimit, Adaptive Insights, Scout RFP, and Peakon ApS in recent years. Its client base comprises 8,000+ organizations, including over 50% of the Fortune 500 companies. The company posted $4.3B in revenue in 2021, marking a 19% increase year-over-year.

Acquirers 63

Acquirers RFP Payroll Posting 63

Fintech News

DECEMBER 6, 2023

● What role does data play in risk decisioning, and how can we ensure the right data at the right time, across the lifecycle? ● What are the main benefits of an AI-powered decisioning platform? ● What’s the best way to create an RFP for decisioning solutions?

APACS 93

APACS Risk RFP AI 93

Finovate

APRIL 2, 2024

Narmi supports all of the FedNow offerings, including the ability to receive funds, send money to linked and external accounts, and request for payment (RFP). Banks in the Treasury Prime network can offer their BaaS clients a real-time payments platform via Narmi’s FedNow service.

Treasury 40

Treasury Instant Payments FedNow Real Time Payments 40

PYMNTS

SEPTEMBER 8, 2017

Amazon.com has issued a request for proposals (RFP) from local and state government officials as it looks to open its second headquarters (Hq2) in the U.S. We want to encourage states and communities to think creatively for viable real estate options, while not negatively affecting our preferred timeline,” Amazon said in announcing the RFP.

RFP 51

RFP Government Governance Economy 51

PYMNTS

NOVEMBER 1, 2020

Suplari partnered with cloud-based sourcing firm Scout RFP earlier this year to help customers access better spend visibility and analytics. And, the release said, the company works with customers to determine the areas where help is most badly needed, including risk, compliance or areas to reduce spend.

RFP 85

RFP Best Practices Compliance Finance 85

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.

Faster Payments 52

Faster Payments FPC Payments RFP 52

PYMNTS

MARCH 14, 2019

The year] 2019 is about Request For Payment (RFP). By way of background, as Forbes noted: In RFP, a biller can send an electronic request for payment. Elsewhere, Forbes said, per an interview with Craig Ramsey, head of real-time payments (RTP) at ACI Worldwide, that 2019 will see “significant” strides in real-time payments.

SWIFT 74

SWIFT Blockchain Distributed Ledger Technology (DLT) RFP 74

PYMNTS

SEPTEMBER 14, 2020

For example, in April 2020 a RaaS (Ransomware as a Service) group called Sodinokibi (a former affiliate with the GrandCrab RaaS group) stated that future ransom request payments will be in Monero (XMR) rather than bitcoin (BTC) due to transaction privacy concerns," the agency states in its RFP.

IRS 64

IRS Blockchain Cryptocurrency RFP 64

Nanonets

DECEMBER 19, 2023

See Nanonet’s blog article for the differences in RFQ vs. RFP.  The X is substituted with the beginning letter of the type of request to title a customized but standardized form for a contract award requiring potential vendors’ responses.  Some eSourcing tools include automated vendor scoring and evaluation.

Request for Information 52

Request for Information RFP Best Practices Risk Management 52

PYMNTS

JUNE 18, 2019

RTP And RFP. However, RFP is directly linked to payments made as a result of the request — an advantage that can streamline the whole process for a range of companies, from the smallest firms to the largest mortgage services and telecom giants like Verizon. Cheney maintained that “the sky is the limit with RTP. …

RTP 78

RTP P2P B2B RFP 78

PYMNTS

MAY 24, 2017

But what may come as a surprise is that strategic sourcing has emerged as one of the most important parts of the procure-to-pay process, says Stan Garber, president of eSourcing company Scout RFP.

RFP 41

RFP Assessments Risk Compliance 41

Nanonets

SEPTEMBER 21, 2023

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. RFPs outline the buyer's needs, specifications, and evaluation criteria, allowing vendors to propose detailed solutions or approaches.

Best Practices 52

Best Practices RFP Request for Information Process 52

Nanonets

FEBRUARY 15, 2024

Documentation: Based on responses to the RFI, the team shortlists suppliers and sends out Requests for Proposal (RFP) to obtain detailed bids, including pricing, delivery timelines, and maintenance services. RFP Issuance: Action: Detailed RFPs are sent to the remaining 8 suppliers.

Finance 52

Finance RFP Agreements Automation 52

PYMNTS

DECEMBER 18, 2018

The service also offers a request for proposal (RFP) process that can help charter schools comply with relevant federal regulations. They could also be required to demonstrate that they used a transparent RFP process for procurements. BuyQ’s goal is to bring together all parties involved in charter schools’ purchasing processes.

RFP 49

RFP Compliance Process Regulations 49

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

DECEMBER 6, 2017

RFP enables PNC to bring a new, leading-edge solution to market as the economy becomes increasingly digital,” said PNC EVP and Head of Product Management Treasury Management Christopher Ward in a statement. The financial institution (FI) has linked into RTP in the U.S. via Finastra ’s Fusion Payments, a payment services platform.

Real Time Payments 40

Real Time Payments Payment Networks RTP RFP 40

PYMNTS

DECEMBER 11, 2017

RFP enables PNC to bring a new, leading-edge solution to market as the economy becomes increasingly digital,” said PNC’s Executive Vice President and Head of Product Management for Treasury Management, J. More recently, another financial institution, PNC, announced it was looping into TCH’s RTP service through a partnership with Finastra.

Real Time Payments 40

Real Time Payments RTP TCH Payment APIs and Integration 40

Center for Payments

MARCH 17, 2023

Its initial launch will include core clearing and settlement functionality and some key value-added features, such as a Request-for-Payment (RfP), and over time it will enhance features in subsequent releases to continue to meet industry needs. Even the Fed is pursuing its own phased approach to the release of the FedNow Service.

FedNow 40

FedNow Faster Payments Instant Payments Federal Reserve 40

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. This is alongside small per-transaction fees, including those for the initial request for payment (RFP) messages. How much does it cost to do a FedNow transaction?

FedNow 40

FedNow Federal Reserve ISO 20022 Fraud Detection 40

PYMNTS

DECEMBER 30, 2020

As organizations were forced to look beyond their traditional suppliers to meet their complex services needs, they also drove a more competitive environment that influenced other aspects of the procure-to-pay workflow.

B2B 68

B2B RFP Cost Structure Service Provider 68

Core

MAY 18, 2023

Government agencies rely on request for proposals (RFPs), but that process can be lengthy and complicated as you work to ensure accuracy and completeness. It is not out of the ordinary for RFP complexity to cause delays and demand more time and government resources than initially allocated.

RFP 52

RFP Process Government Governance 52

Payment Savvy

MAY 16, 2023

The RTP Network enables real-time transactions for various use cases, such as B2B and P2P transactions, payroll, and Request for Pay (RfP) services. Instant ACH Transfer Alternatives RTP Network The RTP (Real-Time Payments) Network, launched by The Clearing House, is an alternative option for those seeking instant money transfers.

ACH 94

ACH Same Day ACH Direct Deposit Consumer Financial Protection Bureau (CFPB) 94

PYMNTS

SEPTEMBER 20, 2016

Think of us as kind of like a LendingTree for payments processing, kind of like a mini-RFP for the payments sector.”. “HeroPay lets small businesses and merchants compare different payment processing options very easily all in one place,” said Hiro Taylor, the company’s founder and CEO.

Small Business 80

Small Business Business Payments RFP Processors 80

FICO

MAY 18, 2016

The goal at this stage of the project was to document the entire process, simplify it, and create an RFP for a complete system redesign. The decision models were highly complex and the notation language helped the team to visualize all the key elements and scope the RFP process.

RFP 45

RFP Rules Assessments Process 45

PYMNTS

APRIL 2, 2019

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. For billing companies, processing relatively low-value utility payments from countless users can be tedious.

Real Time Payments 49

Real Time Payments RTP Payer Irrevocability 49

Nanonets

SEPTEMBER 1, 2023

Seamless Requests for Payments (RFP): Vendors can now submit precise bill requests, streamlining the validation and approval process with a simple click. Strengthened Vendor Relationships: Timely or accelerated payments cultivate robust vendor relationships, creating opportunities for more favorable negotiation terms and better deals.

FedNow 52

FedNow Wire Transfer Federal Reserve ACH 52

Nanonets

JUNE 19, 2024

Cons: Does not support inventory control, RFP, and bid processes. Cost-Effective: It's significantly more affordable for small to medium-sized businesses compared to its competitors. Validation and Approval Rules: It enforces pre-set validation rules and approval routing to maintain compliance and efficiency.

Small Business 52

Small Business Automation Audit P2P 52