Faster ACH
What is Faster ACH
FedNow, Faster ACH 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 messaging system connected to every transaction participant through all U.S.-based financial institutions.
Certainly, we can discuss how the benefits of FedNow
and Real-time Payments (RTP) align with the goals and
advancements of Faster ACH:
1.
Speed:
Faster ACH aims to expedite the processing of ACH
transactions, allowing for same-day settlement and potentially
even faster processing times in the future. Similarly, FedNow
and RTP offer real-time settlement capabilities, enabling
instantaneous transfer of funds between accounts. All three
initiatives prioritize speed, providing consumers and
businesses with faster access to their funds and improving
overall transaction efficiency.
2.
Convenience:
Faster ACH, FedNow, and RTP all offer greater convenience
compared to traditional payment methods. Faster ACH allows for
quicker availability of funds, reducing the time it takes for
payments to clear. FedNow and RTP take convenience to the next
level by enabling real-time payments, eliminating the need to
wait for batch processing or banking hours. This convenience
is particularly valuable for time-sensitive transactions and
situations where immediate access to funds is crucial.
3.
24/7 Availability:
One of the key benefits of FedNow and RTP is their
availability around the clock, 365 days a year. Similarly,
Faster ACH aims to provide expanded availability for same-day
transactions. This means that consumers and businesses can
initiate payments or transfers at any time, including
evenings, weekends, and holidays, without having to wait for
the next banking day.
4.
Enhanced Payment Options:
Faster ACH, FedNow, and RTP offer consumers and businesses a
wider range of payment options. While Faster ACH improves the
speed of traditional ACH transactions, FedNow and RTP
introduce real-time payment capabilities that enable
instantaneous settlement. This diversity of payment options
allows individuals and businesses to choose the method that
best suits their needs, whether they prioritize speed,
convenience, or both.
In summary, while FedNow and RTP offer real-time
payment capabilities that operate independently of the ACH
system, their benefits align with the goals of Faster ACH in
terms of speed, convenience, availability, and enhanced
payment options. Collectively, these initiatives contribute to
the evolution of the U.S. payment landscape, providing
consumers and businesses with faster, more efficient, and more
flexible payment solutions.
Creation Request for Payment Bank File
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.
... 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.
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 Faster ACH 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
