Experience Instant Payment Efficiency with FedNow® at TodayPayments

What is FedNow® Payment Processing?

FedNow® Payment Processing: The Future of Instant Business Transactions

FedNow® Payment Processing is a real-time payment solution developed by the Federal Reserve, enabling businesses and financial institutions to send and receive instant payments 24/7/365. Unlike traditional ACH, wire transfers, and credit card transactions, which can take hours or days to settle, FedNow® payments process in seconds, providing immediate access to funds and improved cash flow management.

With FedNow® Payment Processing, businesses can eliminate delays, reduce transaction fees, and enhance payment security, making it an essential tool for B2B transactions, payroll, e-commerce, and financial institutions.

Benefits of FedNow® Payment Processing

✅ 1. Instant Transactions, 24/7/365

• Send and receive payments within seconds, eliminating processing delays.
• Available 24/7, including weekends and holidays, unlike ACH and wire transfers.

✅ 2. Faster Cash Flow & Liquidity

• Instant settlement improves working capital and business financial planning.
• Eliminates cash flow gaps caused by delayed payments.

✅ 3. Lower Transaction Costs

• More affordable than credit card processing and wire transfers.
• No batch processing fees like traditional ACH transactions.

✅ 4. Enhanced Security & Fraud Prevention

• Final and irreversible payments reduce fraud and chargeback risks.
• Built-in security features ensure safe and compliant transactions.

✅ 5. Seamless Business Integration

• Compatible with ERP systems, accounting software, and online banking platforms.
• Ideal for businesses needing instant payments for payroll, vendor payments, and B2B transactions.

How FedNow® Payment Processing Works

1️⃣ A business initiates a payment through the FedNow® network.
2️⃣ The transaction is processed instantly, with funds transferred within seconds.
3️⃣ Both the sender and recipient receive immediate confirmation.
4️⃣ The payment is final and cannot be reversed, ensuring secure transactions.

Unlike ACH payments (which take 1–3 days) or wire transfers (which operate on limited hours), FedNow® provides an instant, cost-effective alternative for business payments.

FedNow® Payment Processing Use Cases

💼 B2B Supplier & Vendor Payments – Pay suppliers instantly to improve business relationships.
💰 Payroll & Contractor Payments – Process employee salaries and freelancer invoices in real time.
🏢 Intercompany Transfers – Move funds between business accounts instantly.
⚡ E-commerce & B2B Payments – Enable real-time checkout transactions for customers.
📈 Invoice & Recurring Payments – Reduce accounts receivable delays and speed up collections.

FedNow® Payment Processing vs. Traditional Methods

Feature	FedNow® Payment Processing	ACH Transfers	Wire Transfers	Credit Cards
Speed	Instant (seconds)	1–3 business days	Same-day (cutoff restrictions)	1–3 business days
Availability	24/7/365	Business hours only	Business hours only	Business hours only
Transaction Fees	Lower than wires & credit cards	Low, but slower	High	2.9% + fees
Settlement Finality	Immediate & irreversible	Can be reversed	Final	Can be disputed
Best For	B2B, payroll, supplier transactions, online payments	Recurring batch payments	Large, one-time international transactions	Consumer transactions

How to Get Started with FedNow® Payment Processing

🔹 Check with Your Bank or Payment Processor – Verify that your financial institution supports FedNow® transactions.
🔹 Set Up a FedNow®-Enabled Business Account – Ensure your business can send and receive real-time payments.
🔹 Integrate FedNow® with Your Payment Systems – Use accounting software like QuickBooks®, NetSuite, SAP, or ERP solutions.
🔹 Educate Your Finance Team – Train employees to leverage FedNow® for faster, secure business transactions.

🚀 Upgrade to real-time payments with FedNow® Payment Processing today! Contact us below to enable instant business transactions and optimize financial operations.

Creation Request for Payment Bank File

Enhance Your FedNow Payment Processing 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.