Asking the right security questions in your payment hub RFP
Nomentia
OCTOBER 15, 2024
Discover key security questions to ask in your payment hub RFP to make sure the vendors can protect your data and systems.
RFP Related Topics 
Scout RFP Partners With Suplari To Boost Business Spend Visibility
PYMNTS
JUNE 23, 2020
Scout RFP , which works in cloud-based sourcing and supplier engagement, has integrated with artificial intelligence (AI)-driven analytics platform Suplari in a bid to let customers access better spend visibility and analytics, according to a press release.
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GBTA: Move 2020 Hotel RFP Process To Next Year
PYMNTS
MAY 5, 2020
The Global Business Travel Association (GBTA) is in favor of postponing the hotel request-for-proposal (RFP) process for corporate travel bids until 2021 due to the coronavirus , it said Tuesday (May 5) in a press release. Solombrino said the GBTA’s hope is that all hotels will roll their 2020 rates until next year.
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Workday To Expand Procure-To-Pay Via Scout RFP Acquisition
PYMNTS
NOVEMBER 5, 2019
Workday is going to acquire cloud-based procurement and e-software company Scout RFP for $540 million, according to reports. Based in San Francisco, Scout RFP is designed to aid organizations with their procurement processes, from intake through supplier management. “As
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AppBrilliance Brings Real-Time Frictionless Payments to Closed Loop Digital Wallets With RTP & FedNow
Fintech Finance
JULY 30, 2024
Revolutionizing The Consumer Payment Experience of RTP/RfP AppBrilliance’s patented Money API platform works with banks’ Request for Payment (RfP) APIs to seamlessly create consumer-friendly closed-loop payment experiences.
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Chase Bank launches RfP B2B payments solution
The Paypers
AUGUST 24, 2021
US-based Chase Bank has announced that they are launching a B2B payment option using Request-for-Pay (RfP).
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Modern Treasury Drives Growth of Instant Payments with Leading Banks
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.
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103 Workday Acquires Scout RFP: A Review Of The B2B Supplier Management Market
CB Insights
NOVEMBER 7, 2019
On November 4th, Workday announced an agreement to acquire Scout RFP , a cloud-based sourcing and supplier engagement platform for procurement teams, for $540M. Scout RFP brings 300,000 users in over 150 countries to Workday’s platform. Competitors & substitutes to Scout RFP that may be M&A targets.
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5 Common Challenges of RFPs for Content Management and Payment Processing
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.
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FPC 2023 Fall Member Meeting
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.
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Federal Reserve releases market practices for RFPs
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.
4 Ways CORE and Sourcewell Ease the Buying Process for Government Technology
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.
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RTP Network upgrades the availability of Request for Payment
The Paypers
AUGUST 7, 2023
The Clearing House ’s RTP Network has announced the expanded availability of its Request for Payment (RfP) capability.
Faster Payments and the Potential to Transform Consumer Bill Pay
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.
Mastering Procurement Management: Your Gateway to Success
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.
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IRS Offers $625K For Help Cracking Cryptocurrency Secrecy
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.
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51% of Bankers Expect FedNow Payments to be Profitable within Three Years
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.
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TCH’s Waterhouse: Real-Time Payments’ 2021 Focus Is On Smarter, Safer
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.
Beyond Onboarding: Maximising Customer Value through Risk Decisioning in APAC
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?
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US Bank brings Request for Payment to billers
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.
Workday Acquires Contractor & Vendor Management System VNDLY For $510M In Cash
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.
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Amazon To Open A More Than $5B Second Headquarters
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.
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Treasury Prime Taps Narmi to Offer Instant Payments
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.
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Suplari Rolls Out New Tools For Spending Insights, Predictions
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.
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U.S. Faster Payments Council Unveils Comprehensive Report on Instant Recurring Payments
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.
SWIFT Signals Further Openness To Blockchain?
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.
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Procurement Tech Refocuses To Help Corporates Digitally Transform
PYMNTS
DECEMBER 1, 2017
Even as new technologies offer sophisticated eProcurement, eSourcing and spend management solutions for corporates, grappling with the adoption of these tools has been a challenge for many organizations, says Alex Yakubovich, CEO of Scout RFP. But, as with any major transformation, this shift hasn’t been easy.
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Bitcoin Daily: IRS Offers $625K For Help Cracking Cryptocurrency Secrecy; Kuala Lumpur's IBF Net Eyes Blockchain For Recurring Payments
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.
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What is e Sourcing?
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.
What is the Quote to Cash Process and How Do You Implement It?
Stax
SEPTEMBER 19, 2024
Metrics like churn rate, average order entry time, RFP win rate, % of orders delivered in time & in full, revenue, MOM profit margins, and more will help you develop a clear picture of how well your new QTC system is performing. You should have a list of KPIs that will help you track the performance of your system.
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P2P Payments Set The Stage For B2B RTP
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. …
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How Banks Can Overcome 10 Challenges with FedNow Payment Sending and Acceptance
Finovate
OCTOBER 16, 2024
per RFP message, charged to the requestor. Additionally, banks may be holding back because of the fees that come with participating in FedNow. Banks must pay $25 per month per routing transit number to use the service, plus a $0.045 per credit transfer fee charged to the sender and a $0.01
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When Supplier Sourcing Strategy Goes Beyond Cheaper Prices
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.
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Understanding RFQ Meaning in Business: A Detailed Guide
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.
Everything You Need to Know about Procurement for Businesses: A Practical Guide for CFOs and Finance Leaders
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.
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52 For Charter Schools, A Workforce Spend Tutorial
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.
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U.S. Faster Payments Council Releases Consumer Bill Pay Research White Paper
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.
PNC Goes Live On The Clearing House’s Real-Time Payments Network
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.
FIS Links Fifth Third Clients To Real-Time Payments
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.
EXCLUSIVE: Mastercard And Ingo Partner To Bring Instant Payments To Treasury Banks
PYMNTS
NOVEMBER 18, 2020
They’ve brought new treasury banking partners online and recently even won an RFP (which they can’t offer details on yet). Edwards and Haymond said Ingo and Mastercard are already off and running with their new partnership.
An Imminent FedNow? Launch: Three Considerations for Your Financial Institution to Support and Encourage Readiness
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.
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What Is FedNow & How Can Businesses Prepare for It?
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?
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Rethinking The Services Procurement Strategy For Both Buyer And Supplier
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.
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Meet HeroPay, The Startup That Wants To Be Small Business’ Payments Hero
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.
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