Request for Payment (RfP™) Using FedNow® & RTP® | Real-Time Invoicing via Mobile, Email, and QR

RfP™ Parameters, Attributes, Benefits & Features

RfP™ Parameters

• MsgId – Unique message identifier per invoice
• PmtInfId – Payment information block (batch ID or group ID)
• Cdtr/Nm – Merchant (Payee) name
• CdtrAcct/Id – Alias identifier (phone/email or token)
• Dbtr/Nm – Customer (Payer) name
• RmtInf/Ustrd – Invoice details or line-item descriptions
• Amt/InstdAmt – Requested payment amount
• ReqdExctnDt – Requested execution date
• Purp/Cd – Payment purpose code (e.g., “INVOICE”)

RfP™ Attributes

• Real-time processing over FedNow® and RTP®
• Alias-based transactions (no routing/account numbers)
• Flexible delivery via SMS, email, or QR code
• Supports ISO 20022 XML, JSON, and Excel formats
• Works with Hosted Payment Pages and QuickBooks®
• Secure, encrypted messaging for Payer-to-Payee transfers
• Integrates with ACH, BNPL, Cards, and Customer Financing

RfP™ Business Benefits

• Get paid instantly 24/7/365 with real-time rails
• Minimize fraud risk using alias identifiers
• No chargebacks, no pending deposits, and no NSF returns
• Streamline billing across mobile, email, and online
• Customer flexibility to choose when/how they pay
• Supports recurring payments and batched invoicing
• Boost cash flow with push-payment certainty

Use Cases for FedNow® and RTP® RfP™ Invoicing

• Contractors & Repair Services – Bill after job completion via SMS
• Professional Services – Invoicing through QuickBooks® with instant funding
• Retail & eCommerce – QR code invoices for faster checkout
• MOTO Merchants – Secure phone-based billing with no card data
• Subscription Services – Recurring digital invoices with real-time settlement
• Healthcare & Wellness Providers – HIPAA-safe alias invoicing via email

Mandatory ISO 20022 Fields for Minimum RfP™ Compliance

These fields ensure clean data exchange, fast processing, and full reconciliation compatibility with all participating banks and credit unions.

Ask us How:

Request Payment instantly using secure FedNow® and RTP® rails and transform your invoicing from slow and uncertain to real-time and guaranteed. With TodayPayments.com's advanced RfP™ tools, merchants can generate payment requests using alias information like mobile phone numbers or emails — no need for account or routing numbers.

Invoicing can be delivered through mobile text, email, or QR code, with each RfP™ linked to a hosted payments page that lets the customer pay using FedNow®, RTP®, ACH, debit, credit, BNPL, or customer financing.

RTP® and FedNow® Request for Payment solutions enable secure, ISO 20022-compliant messaging so that your business receives irrevocable good funds instantly — whether you’re running a subscription-based model, billing for one-off services, or invoicing large clients via QuickBooks®.

Using RfP (Request for Payment) for Real-Time or FedNow Instant Payments After Due Date

Overview: The Request for Payment (RfP) feature is an integral part of the real-time payment systems offered by FedNow and the RTP (Real-Time Payments) network. This feature allows businesses to request payments digitally, even after the due date, ensuring prompt and secure settlement of overdue invoices.

Key Features and Benefits:

Real-TimePayments.com and FedNow Integration:

1. Request for Payment (RfP):
   • RfP allows businesses to send a formal payment request to a customer or client for an outstanding invoice.
   • The request includes all necessary details such as the amount due, the original due date, and any late fees or interest charges applicable.
2. Instantaneous Payment Processing:
   • Once the recipient approves the RfP, the payment is processed instantly through the FedNow or RTP network.
   • Funds are transferred and available within seconds, ensuring timely settlement of overdue amounts.
3. 24/7/365 Availability:
   • Payments can be made at any time, including weekends and holidays, providing continuous availability for settling overdue invoices.
4. Enhanced Security:
   • Utilizes advanced security measures to ensure that transactions are secure and irrevocable.
   • Protects sensitive financial information through end-to-end encryption.
5. Mobile Integration:
   • Supports mobile banking applications, allowing recipients to receive, review, and respond to RfP directly from their smartphones.
   • Provides real-time notifications and updates for all transactions.

Benefits:

1. Improved Cash Flow Management:
   • Ensures quick settlement of overdue invoices, improving cash flow and liquidity.
   • Reduces the waiting time for payments to clear, providing financial stability.
2. Operational Efficiency:
   • Streamlines the payment collection process, reducing administrative tasks and potential errors.
   • Automates reconciliation with real-time updates and detailed remittance information.
3. Enhanced Customer Experience:
   • Provides a seamless and immediate payment experience for customers, even for overdue payments.
   • Reduces the risk of prolonged outstanding invoices and associated penalties.
4. Fraud Reduction:
   • The secure and irrevocable nature of real-time payments minimizes fraud risk.
   • Real-time transaction confirmation aids in early detection and prevention of fraudulent activities.

Steps to Request Payment After Due Date Using RfP:

1. Set Up Real-Time Payments with Your Bank:
   • Ensure your financial institution supports FedNow or RTP services and complete the necessary setup.
   • Register your business and link it with your accounting system or payment platform.
2. Enable Request for Payment (RfP) Feature:
   • Configure the RfP feature within your payment platform to send digital payment requests.
   • Customize the RfP templates to include necessary remittance information and payment details, including overdue charges.
3. Send Payment Requests for Overdue Invoices:
   • Use the RfP feature to send a payment request to the customer or client for the overdue invoice.
   • Include details such as the original due date, amount due, and any late fees or interest charges.
4. Receive and Reconcile Payments:
   • Monitor real-time notifications for responses to the RfP and confirm payment receipt.
   • Automatically reconcile received payments with outstanding invoices in your accounting system, ensuring accurate financial records.

Example Use Case:

Scenario: A service provider needs to collect overdue payments from a client. By using Real-TimePayments.com integrated with FedNow and the RfP feature, the service provider sends a digital payment request for the overdue invoice.

• Initiate RfP: The service provider logs into Real-TimePayments.com, creates an RfP with the overdue invoice details, and sends it to the client.
• Process Payment: The client receives a notification on their mobile device, reviews the request, and approves the payment. Funds are transferred instantly.
• Reconciliation: The payment is automatically recorded and reconciled in the service provider’s accounting system, reflecting the updated financial status in real time.

For more detailed information and support, you can visit Real-TimePayments.com. This platform provides comprehensive resources and guides to help businesses implement and maximize the benefits of real-time payments and RfP for overdue invoices.

Accept Real-Time Payments Today at TodayPayments.com

Don't let slow payments delay your growth. With TodayPayments.com, you can harness Request for Payment (RfP™) powered by FedNow® and RTP® to get paid instantly, securely, and 24/7.

✅ Alias-based invoicing
✅ Real-time settlement via SMS, email, QR
✅ Hosted payment pages and full API support
✅ ISO 20022 formats for clean reconciliation

Ready to revolutionize your payments? Sign up at https://www.TodayPayments.com and get started with instant, secure invoicing today.