Request for a Payee
How to Request for a Payee
Request for Payment, a new standard for digital invoicing facilitating real-time payments RTP ® and FedNow ®
payments that are instant, final (irrevocable - "good funds") and
secure.
Getting a customer to pay you
through real-time payments involves a combination of
communication, convenience, and providing clear
instructions. Here are some steps you can take:
- Communicate Clearly:
- Clearly communicate
with your customer about the payment method you
prefer, which in this case is real-time payments.
- Explain the benefits of
real-time payments, such as faster processing and
immediate confirmation of payment.
- Offer Incentives:
- Provide incentives for
customers who choose to pay using real-time
methods. This could include discounts, faster
service, or other perks.
- Provide Clear
Instructions:
- Clearly outline the
steps your customer needs to take to make a
real-time payment. This may include providing your
bank details, payment app information, or other
necessary details.
- Use Technology:
- Leverage technology to
make the payment process seamless. Utilize online
payment platforms, mobile apps, or other digital
tools that support real-time payments.
- Show Security Measures:
- Address any concerns
your customer may have about the security of
real-time payments. Assure them that the method is
secure and that their financial information will be
protected.
- Make it Easy:
- Streamline the payment
process as much as possible. Minimize the number of
steps and provide user-friendly interfaces for
making real-time payments.
- Highlight Convenience:
- Emphasize the
convenience of real-time payments. Stress the fact
that it eliminates the need for physical checks,
reduces processing times, and allows for immediate
confirmation of transactions.
- Set Expectations:
- Clearly communicate any
deadlines or expectations regarding payment. Let
the customer know the benefits of making the
payment in real-time, such as avoiding late fees or
ensuring timely delivery of goods or services.
- Follow Up:
- If the customer has not
made the payment within a reasonable timeframe,
send friendly reminders. Emphasize the benefits of
real-time payments and provide any necessary
support to help them complete the transaction.
- Provide Customer
Support:
- Offer assistance and
support in case the customer encounters any issues
or has questions about making real-time payments. A
responsive customer support system can build trust
and confidence.
Remember to comply with any
legal and regulatory requirements related to payments in
your region. Additionally, always prioritize transparency
and customer satisfaction in your communication and
processes
ACH and both FedNow Instant and Real-Time Payments Request for Payment
ISO 20022 XML Message Versions.
The versions that
NACHA and
The Clearing House Real-Time Payments system for the Response to the Request are pain.013 and pain.014
respectively. Predictability, that the U.S. Federal Reserve, via the
FedNow ® Instant Payments, will also use Request for Payment. The ACH, RTP® and FedNow ® versions are "Credit
Push Payments" instead of "Debit Pull.".
Activation Dynamic RfP Aging and Bank Reconciliation worksheets - only $49 annually
1. Worksheet Automatically Aging for Requests for Payments and Explanations
- Worksheet to determine "Reasons and Rejects Coding" readying for re-sent Payers.
- Use our solution yourself. Stop paying accountant's over $50 an hour. So EASY to USE.
- No "Color Cells to Match Transactions" (You're currently doing this. You won't coloring with our solution).
- One-Sheet for Aging Request for Payments
(Merge, Match and Clear over 100,000 transactions in less than 5 minutes!)
- Batch deposits displaying Bank Statements are not used anymore. Real-time Payments are displayed "by transaction".
- Make sure your Bank displaying "Daily FedNow and Real-time Payments" reporting for "Funds Sent and Received". (These banks have Great Reporting.)
Each day, thousands of businesses around the country are turning their transactions into profit with real-time payment solutions like ours.