Requests For Payment
What is Requests For Payment
FedNow, Requests For Payment 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.
Integrating ACH and FedNow real-time payments through a platform like Real-TimePayments.com into your business workflow, particularly with QuickBooks Online (QBO) and SecureQBPlugin, would follow a structured process. Here’s a step-by-step guide on how to use Real-TimePayments.com for ACH and FedNow real-time payments:
1. Understand ACH and FedNow through Real-TimePayments.com
- ACH Payments: Real-TimePayments.com may facilitate ACH payments, which typically process within a few business days but at lower fees.
- FedNow Real-time Payments: This is an instant payment service offered by the Federal Reserve that provides real-time, immediate payment capabilities. Using this through Real-TimePayments.com ensures your funds are transferred within seconds, 24/7/365.
2. Setting Up Real-TimePayments.com with QuickBooks Online
To enable real-time ACH and FedNow payments through Real-TimePayments.com in QuickBooks Online, follow these steps:
Step 1: Create an Account with Real-TimePayments.com
- Go to Real-TimePayments.com and create an account.
- Complete the required setup for business payment processing, including linking your business bank account to the platform.
- Ensure that Real-TimePayments.com supports both ACH and FedNow for your banking partner.
Step 2: Configure Real-TimePayments.com for ACH and FedNow Payments
- Navigate to the payment settings in Real-TimePayments.com and enable ACH and FedNow real-time payments.
- Set up the necessary credentials, payment limits, and user permissions for ACH and FedNow transactions. This will ensure your business can send and receive payments securely and in compliance with financial regulations.
Step 3: Integrate Real-TimePayments.com with QuickBooks (via SecureQBPlugin)
- If you're using SecureQBPlugin with QuickBooks Online, the integration might require setting up an API or third-party service connection between Real-TimePayments.com and SecureQBPlugin.
- You will need to enter your Real-TimePayments.com API credentials or token into SecureQBPlugin to allow it to handle the real-time payments through QuickBooks.
- Verify that the payment processing methods (ACH, FedNow) are available for your invoices and vendor payments.
3. Enabling Real-Time Payments for Invoicing in QuickBooks
With the integration between QuickBooks Online, SecureQBPlugin, and Real-TimePayments.com set up, you can now handle invoicing with real-time payments. Here’s how to do that:
Step 1: Create an Invoice in QuickBooks
- In QuickBooks Online, create a new invoice as you normally would.
- Select your customer, input the line items, and ensure all the billing details are accurate.
Step 2: Add ACH and FedNow as Payment Options
- Since you’ve connected Real-TimePayments.com with SecureQBPlugin, ACH and FedNow real-time payment options should appear in the payment options section of the invoice.
- Include these payment options in the invoice you’re sending to your customer, so they can choose their preferred payment method.
Step 3: Send Request for Payment
- Once the invoice is ready, you can send it via email or through the QuickBooks customer portal.
- Using the Request for Payment functionality, your customer will be prompted to pay via ACH or FedNow instantly.
Step 4: Monitor Payment Status in Real-Time
- Real-TimePayments.com allows you to track the status of ACH and FedNow payments in real time.
- The SecureQBPlugin syncs the payment details back to QuickBooks, marking the invoice as paid once the transaction is processed.
4. Receive and Reconcile Payments
- When a customer makes a payment using ACH or FedNow through Real-TimePayments.com, funds will be deposited directly into your bank account.
- SecureQBPlugin will automatically update the payment status in QuickBooks Online, helping you reconcile invoices without manual entry.
5. Key Benefits of Using Real-TimePayments.com with QuickBooks
- Instant Payments: Using FedNow for real-time payments ensures you get paid within seconds.
- Improved Cash Flow: With ACH and FedNow options, you can streamline your accounts receivable, reducing the time it takes to collect payments.
- Automated Reconciliation: SecureQBPlugin keeps your QuickBooks Online system in sync with payment statuses, automating the reconciliation process.
- Enhanced Customer Experience: Offering multiple payment options (ACH, FedNow) provides flexibility for your clients, making it easier and faster for them to pay.
6. Compliance and Security
- Ensure your integration with Real-TimePayments.com follows all security protocols, such as multi-factor authentication (MFA) and encryption.
- Regularly review compliance with payment processing regulations, including ACH network rules and Federal Reserve policies for FedNow.
By using Real-TimePayments.com, along with QuickBooks and SecureQBPlugin, you can offer a seamless and efficient payment process for your customers. This setup will allow you to accept ACH payments with standard processing times or use FedNow for instant real-time payments.
If you need assistance with any of these steps or have specific questions about configuring the integration, feel free to ask!
Features & Benefits
FedNow instant payments has benefits for all parties involved in
Financial Transactions.
Benefits to your company include:
Money Transfer: Current limit of $500,000.
It's Fast: 24/7/365 access to funds anytime vs.
several days for paper checks or ACH transfers to process.
Request for Payments ( RfP ™): Mobile & Online Real-Time Bill Payments.
It's Final: All RTP and Instant Payments are Final & Irrevocable.
Software Integration: Integrate your Management
or Enterprise software with us.
Message Detail: Full 145 characters available
using ISO 20022 messaging XML format.
Online Down Payments: Don't use inconvenient
and expensive Wires & Cashier's Checks.
Online Real-Time Reporting: Configured
Dashboard with Virtual Terminal login.
Reduced calls / emails in the "Purchasing Chain": All
parties to a instant payment transaction receive immediately
text & email messaging.
The
FedNow and RTP Systems enables Participants to initiate credit transfers,
receive final and irrevocable settlement for credit transfers,
and make available to Receivers funds associated with such
credit transfers in real-time, twenty-four (24) hours a day,
seven (7) days a week, fifty-two (52) weeks a year. All instant payments are "Credit
Push" instead of "Debit Pull."
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 Requests For Payment 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
