The Clearing House has expanded the availability of a capability that enables broker dealers, billers and suppliers to request a payment from customers and receive an instant payment in response. This Request for Payment (RfP) capability on the RTP network is now offered by several...
Four days from today, the Federal Reserve’s instant account-to-account payments rail will go live. FedNow’s launch on July 20 will bring the number of real-time rails in the U.S. to two. The first real-time rail to go live was RTP®, operated by The Clearing House,...
An industry working group will encourage adoption of request for payment (RFP) functionality. Formed by the Federal Reserve ahead of the launch of the FedNow Service, which is to happen in mid-2023, the Request for Payment (RFP) Work Group: Customer Experience will establish voluntary principles...
The term “central bank” brings to mind thoughts of stability, resilience and trust, all things that have been part of the Federal Reserve’s DNA for more than a century. Many people are less aware that the payment systems operated by the Fed facilitate the electronic...
November 03, 2022
The term “central bank” brings to mind thoughts of stability, resilience and trust, all things that have been part of the Federal Reserve’s DNA for more than a century. Many people are less aware that the payment systems operated by the Fed facilitate the electronic movement of trillions of dollars between financial institutions every day. […]
September 26, 2023
The Federal Reserve has unveiled market practices aimed at promoting the standardized implementation of the request for payment (RFP) feature of the FedNow® Service. The market practices were developed by a diverse industry work group convened by the Federal Reserve, which included representatives from various sectors, the Federal Reserve said in a Tuesday (Sept. 26) press release. The recommendations […]
August 02, 2023
The Clearing House has expanded the availability of a capability that enables broker dealers, billers and suppliers to request a payment from customers and receive an instant payment in response....
December 08, 2022
An industry working group will encourage adoption of request for payment (RFP) functionality. Formed by the Federal Reserve ahead of the launch of the FedNow Service, which is to happen...
November 08, 2021
U.S. Bank has added request for payment (RfP) capabilities to its U.S. Bank eBill Service, a digital solution for accounts receivable (AR) teams, the company announced on Monday (Nov. 8)....
