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B2B FedNow® and RTP® Instant Digital Invoice Payments

Efficient B2B Payment Solutions:

FedNow® Processors & RTP® Interoperability: The Future of Real-Time Payments

What Are FedNow® Processors?

FedNow® Processors are payment service providers, financial institutions, and fintech platforms that enable businesses to send and receive real-time payments via the Federal Reserve’s FedNow® network. These processors facilitate instant transactions 24/7/365, eliminating the delays and costs associated with ACH transfers, wire payments, and credit card processing.

With the growing demand for faster, more efficient B2B and B2C payments, interoperability between FedNow® and RTP® (Real-Time Payments, operated by The Clearing House) is becoming increasingly important. Businesses now seek FedNow® Processors that can support both real-time payment networks, ensuring seamless transactions between financial institutions.

Benefits of FedNow® Processors with RTP® Interoperability

✅ 1. Real-Time Payments Across Networks

• FedNow® and RTP® both offer instant payments, but their networks are separate.
• Interoperable processors ensure seamless transactions between both systems, allowing businesses to operate without limitations.

✅ 2. 24/7/365 Availability for Instant Transactions

• Unlike ACH, which operates in batch cycles, both FedNow® and RTP® enable real-time transactions, 24/7/365.
• No more waiting for bank hours, weekends, or holidays—funds settle instantly.

✅ 3. Expanded Network Access for Businesses

• FedNow® supports all U.S. financial institutions, while RTP® is limited to The Clearing House network.
• Interoperability allows businesses to transact with partners using either payment system.

✅ 4. Lower Transaction Costs vs. Traditional Methods

• Real-time payments bypass credit card networks, reducing interchange fees.
• More affordable than wire transfers and eliminates ACH processing delays.

✅ 5. Secure & Final Transactions

• FedNow® and RTP® transactions are final and cannot be reversed, reducing fraud risks.
• Built-in security and compliance features protect businesses from unauthorized transactions.

FedNow® Processors vs. RTP® Processors: Key Differences & Interoperability

Feature	FedNow® Processors	RTP® Processors	Interoperable Processors
Operator	Federal Reserve	The Clearing House	Supports both FedNow® & RTP®
Speed	Instant (seconds)	Instant (seconds)	Instant (seconds)
Availability	24/7/365	24/7/365	24/7/365
Bank Network	Open to all U.S. banks	Limited to TCH network	Enables payments across both systems
Transaction Limits	Up to $1M per transaction (bank-dependent)	Up to $10M per transaction	Varies based on network rules
Best For	Broad adoption, B2B/B2C real-time payments	Large banks & businesses needing high-value transactions	Businesses requiring full U.S. real-time payment coverage

Which One Should You Choose?

✅ Use a FedNow® Processor if your business relies on a bank outside The Clearing House network and you need instant, government-backed transactions.
✅ Use an RTP® Processor if your financial institution is part of The Clearing House and you require higher transaction limits.
✅ Choose an Interoperable Processor if your business needs to send and receive payments across both networks, ensuring full U.S. real-time payment connectivity.

How FedNow® & RTP® Interoperability Works

1️⃣ A business initiates a payment request using a FedNow® or RTP® processor.
2️⃣ If both the sender and recipient banks are on the same network (FedNow® or RTP®), the transaction is processed instantly.
3️⃣ If the banks are on different networks, an interoperable processor routes the payment to the appropriate system.
4️⃣ Funds settle in real time, ensuring seamless business transactions.
5️⃣ Both parties receive immediate confirmation, enhancing transaction transparency.

Interoperability between FedNow® and RTP® ensures businesses can transact efficiently, regardless of which system their bank supports.

Who Should Use FedNow® & RTP® Processors?

📌 E-commerce & Online Retailers – Accept real-time customer payments across both networks.
📌 B2B Companies & Enterprises – Pay suppliers instantly, regardless of which real-time payment network they use.
📌 Financial Institutions & Fintech Providers – Offer full U.S. real-time payment coverage by supporting both FedNow® and RTP® transactions.
📌 Payroll & HR Departments – Process instant employee payments without bank delays.
📌 Freelancers & Gig Economy Platforms – Receive payments in seconds without ACH wait times.

How to Choose the Right FedNow® or RTP® Processor

🔹 Verify Your Bank’s Real-Time Payment Support – Some banks only support FedNow® or RTP®, while others are interoperable.
🔹 Compare Transaction Limits – FedNow® limits vary by bank (up to $1M), while RTP® allows up to $10M per transaction.
🔹 Look for Multi-Network Support – Ensure the processor offers seamless payments across both FedNow® and RTP®.
🔹 Ensure ERP & Software Integration – Choose a processor that integrates with QuickBooks®, SAP, NetSuite, and other financial platforms.
🔹 Evaluate Cost & Security Features – Compare transaction fees, encryption standards, and fraud prevention tools.

Upgrade to real-time payments with a FedNow® or RTP® Processor today! Contact us below to enable instant transactions and improve financial efficiency.

Creation Request for Payment Bank File

Enhance Your FedNow Processors Payment Requests with FedNow’s ISO 20022 Messaging

Streamline Payments with Advanced Request for Payment Options:

Harness the power of FedNow's Request for Payment system to transform how you manage invoices and remittances. Our platform supports diverse data integration options, allowing payees to incorporate detailed invoice data directly within the RfP message or link to a comprehensive Merchant Page.

Flexible Invoice Details with ISO 20022 Messaging:

Leverage the flexibility of ISO 20022 messaging standards in our RfP system. You can choose to display crucial payment details directly in the message with a concise 140-character description, or through a dynamic "Hyper-Link" leading to a detailed Merchant Page. This Merchant Page can be hosted either on your website or TodayPayments.com/HostedPaymentPage.html through our seamless integration solution.

Customizable Merchant Pages for Enhanced Customer Experience:

Create a Merchant Page that not only details all the MIDs you own but also presents these options attractively to your customers through the RfP. This customization ensures that whether your payer opts for Real-Time Payment, Same-Day ACH, or Card transactions, they can easily navigate and complete their payments through a simple click on the hyperlink provided on your Merchant Page.

Call us today and receive the .csv or .xml FedNow® or Request for Payment (RfP) file you need—all during your very first phone call! We guarantee that our comprehensive reports integrate flawlessly with your bank or credit union. As pioneers in recognizing the benefits of RequestForPayment.com, we have stayed years ahead of our competitors. Although we are not a bank, our role as an "Accounting System" within the Open Banking ecosystem enables us to work with billers to create effective RfP files that seamlessly upload to the biller's online banking platform. U.S. companies rely on our expertise to learn how to deliver the RfP message directly to their bank with precision.


Our advanced solution, Today Payments' ISO 20022 Payment Initiation (PAIN.013), demonstrates how to create a Real-Time Payments Request for Payment file that sends a clear message from the creditor (payee) to its bank. Most financial institutions support the import of messaging and batch files for both FedNow® and Real-Time Payments (RtP), ensuring smooth processing. Once the file is correctly uploaded, the creditor’s bank processes the payment through a secure "Payment Hub"—with The Clearing House serving as the RtP Hub—and relays the message to the debtor's (payer's) bank. This streamlined approach not only accelerates transaction processing but also enhances transparency and reliability for all parties involved.

... easily create Instant 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.