Pay By FedNow®: Transforming Digital Transactions
How to use Pay By FedNow®?
Pay By FedNow®: The Future of Instant
B2B, C2B, B2C & A2A Transactions
The Demand for Instant Digital
Payments
In today’s fast-moving digital economy,
businesses and consumers can’t afford to wait for payments to
process. Whether it’s business-to-business (B2B) transactions,
customer-to-business (C2B) payments, business-to-customer (B2C)
payouts, or account-to-account (A2A) transfers, fast, secure, and
low-cost payment options are essential.
But traditional payment methods like ACH,
wire transfers, and credit cards come with delays, high fees, and
security risks. What if there was a solution that enabled instant
transactions—with no waiting periods, no excessive fees, and no
chargebacks?
Introducing Pay By FedNow®, a real-time
payment system developed by the Federal Reserve that allows instant,
direct, and secure transactions across all payment categories.
Today Payments
provide how Pay By FedNow® works, why it's a game-changer for
businesses and consumers, and how it compares to traditional payment
methods.
Attributes of "Pay by FedNow" for your business using instant payments
Pay By FedNow® is a real-time payment
system that enables businesses and individuals to send and receive
instant payments 24/7/365. Unlike traditional banking methods that
rely on batch processing or banking hours, FedNow® ensures that
transactions are processed immediately, reducing wait times and
improving cash flow.
Key Features of Pay By FedNow®
✅ Instant Transactions –
Payments settle within seconds, not days.
✅
24/7/365 Availability – Works any time, including weekends and
holidays.
✅ Low or No Fees – Avoid high
credit card processing fees and wire transfer costs.
✅
Secure & Fraud-Resistant – Transactions are final and
cannot be reversed.
✅ Compatible with All
Business & Consumer Payments – Supports B2B, C2B, B2C, and
A2A transactions.
Understanding B2B, C2B, B2C & A2A
Transactions with Pay By FedNow®
B2B (Business-to-Business) Payments
🔹 Businesses can pay
suppliers, vendors, and partners instantly without waiting for
ACH transfers.
🔹 Faster invoice payments
improve cash flow and eliminate late fees.
🔹
Avoid credit card interchange fees and expensive wire
transfers.
C2B (Customer-to-Business) Payments
🔹 Consumers can pay
merchants instantly without credit card processing fees.
🔹 Retailers and service providers can receive
payments in real-time without waiting for bank settlements.
🔹 Eliminates chargebacks, ensuring businesses
retain revenue.
B2C (Business-to-Customer) Payouts
🔹 Companies can issue
refunds, rebates, and payroll instantly.
🔹
Gig workers and freelancers receive payments instantly, without
delays.
🔹 Faster settlement improves
customer satisfaction and trust.
A2A (Account-to-Account) Transfers
🔹 Individuals and businesses
can transfer money between accounts instantly.
🔹
Eliminates the need for ACH or wire transfers, making
banking faster and more efficient.
🔹 Seamless
integration with online banking and mobile payment platforms.
Why Pay By FedNow® is Better Than
Traditional Payment Methods
1. Faster Payments, No Delays
ACH transfers take 1-3 business days
to process. Wire transfers have cut-off times and high fees.
Credit card transactions can take days to settle.
With Pay By FedNow®, transactions are
processed in seconds—24/7, including weekends and holidays.
2. Eliminates Credit Card Processing Fees
💳 Credit cards charge
businesses 2-4% per transaction.
💰 Pay
By FedNow® eliminates these fees, allowing businesses to
retain more revenue.
3. Secure & Fraud-Resistant Payments
ACH and credit card transactions can be
reversed, leading to fraud and chargebacks.
FedNow® payments are final and irrevocable,
reducing fraud risks and giving businesses peace of mind.
4. Supports All Payment Types (B2B, C2B,
B2C, A2A)
Unlike traditional payment systems that
specialize in one category, Pay By FedNow® supports all
major payment flows, making it the most versatile payment
solution available.
5. Improves Cash Flow for Businesses &
Individuals
Faster transactions mean businesses can
reinvest in growth immediately, and individuals can access their
money without delays.
Attributes
"Pay By FedNow® for B2B, C2B, B2C, and A2A
transactions"
"How to accept instant payments with Pay
By FedNow®"
"FedNow® vs. ACH vs. credit cards: Which
payment method is best?"
"How businesses can save money
with Pay By FedNow® instant payments"
"The fastest way
to send and receive payments with FedNow®"
How to Get Started with Pay By
FedNow®
✅ Step 1: Check if your
bank or financial institution supports FedNow® transactions.
✅ Step 2: Enable Pay By FedNow® for your
business or personal banking.
✅ Step 3:
Integrate Pay By FedNow® into your invoicing, payroll, or payment
processing systems.
✅ Step 4: Start sending
and receiving instant payments—24/7/365!
Make the Switch to Pay By FedNow® Today
💡 Still dealing with slow
ACH payments, expensive credit card fees, and banking delays? It’s
time to upgrade to real-time payments with Pay By FedNow®!
Business Owners & Entrepreneurs: Get
paid instantly, reduce processing fees, and improve cash flow.
Retailers & Service Providers: Accept customer payments
instantly—no waiting, no chargebacks.
Freelancers & Gig
Workers: Receive your earnings instantly, without bank delays.
Banks & Financial Institutions: Offer your customers the
future of payments with Pay By FedNow®.
🔹 Why wait days for payments
when you can get paid in seconds?
Talk to your bank today and start using
Pay By FedNow® for real-time transactions!
Creation Request for Payment Bank File
Enhance Your Pay By FedNow 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.
Each day, thousands of businesses around the country are turning their transactions into profit with real-time payment solutions like ours.
Contact Us for Pay By FedNow payment processing pricing
