Real-Time Request

What is Real-Time Request

The future of digital payments is now being shaped by secure, instant, and structured transactions. Whether you're a business, contractor, platform, or enterprise, requesting and receiving money in real time is no longer just a convenience—it's a necessity.

Real-Time Request Payments, enabled by FedNow® and RTP® (Real-Time Payments) networks, provide a frictionless way for Payees to request money from Payers using Request for Payments (RfP). These requests are powered by standardized ISO 20022 messaging, making them secure, scalable, and intelligent for both personal and business use.

At TodayPayments.com, we help you enable this capability across multiple financial institutions nationwide, without sharing sensitive banking details, thanks to our alias-based payment identity system.

About Real-Time Request

What Is a Real-Time Request for Payment (RfP)?

A Request for Payment (RfP) is a structured message sent from a Payee (the one requesting funds) to a Payer (the one sending funds).

Using ISO 20022 data transmission standards, the RfP communicates:

• Who is requesting payment
• The amount requested (static or dynamic)
• The purpose of the request
• The time frame for the payment

Once the Payer receives the RfP through their banking interface, they authorize it, and the funds are instantly transferred through the FedNow® or RTP® networks.

Send and Receive Payments with Alias-Based Protection

Privacy and identity protection are a key part of today’s payment standards. Our alias-based system allows both parties to interact securely:

• Payees and Payers use email addresses or phone numbers as monikers, instead of exposing bank account numbers
• Transactions are routed through our secure platform using linked MIDs (Merchant Identification Numbers)
• Payment confirmations are issued in real time, with instant delivery of funds

This ensures both sender and recipient maintain full privacy, even in high-frequency or recurring transaction models.

How FedNow® and RTP® Improve Real-Time Payment Requests

Traditional payment requests can take hours or days to clear. With real-time payment rails, RfPs become instantaneous:

• 24/7/365 availability, including weekends and holidays
• Immediate settlement once the Payer approves
• Bank-to-bank confirmation of delivery and receipt
• Integrated metadata support for transaction tracking and ledger updates

The combined power of FedNow® and RTP® ensures your RfPs are fulfilled with speed, security, and visibility.

Use Cases for Real-Time Request Payments

Real-Time RfPs apply to a wide range of industries and use cases:

• B2B invoice collection with structured metadata
• Rent payments between landlords and tenants
• Subscription and membership billing cycles
• Government, tax, and compliance collections
• Contractor and freelancer on-demand payouts
• Utility, telecom, and insurance billing

Any time you need to request and receive money quickly, real-time RfPs streamline the process.

Integrated ISO 20022 Messaging and Hosted Pages

At TodayPayments.com, we support full ISO 20022 messaging to enhance your transaction structure. You can:

• Send RfPs that include invoice numbers, payment descriptions, and due dates
• Generate Hosted Payment Pages tied to the RfP with click-to-pay convenience
• Receive notifications upon Payer approval and immediate fund movement

This brings transparency and trust to every transaction—ideal for recurring, one-time, or enterprise-level billing workflows.

Alias Management, Multi-Bank Support, and Real-Time Reconciliation

Our real-time payment ecosystem includes:

• Alias management for both Payer and Payee
• MID assignment for each alias, project, or payment type
• Routing across multiple banks and credit unions in all 50 states
• Automated reconciliation and reporting dashboards
• Optional QuickBooks® QBO integration for accounting sync

It’s a powerful platform for managing high-volume, alias-secured payment activity with complete control and compliance.

Activate Real-Time Request Payments Today

If your business or platform needs a better way to request and receive money:
✅ Use FedNow® and RTP® for instant payment requests
✅ Enable ISO 20022-compliant RfPs with alias security
✅ Avoid delays, boost trust, and gain real-time control

RfP (Request for Payment) FedNow Real-Time Request is a service offered by the Federal Reserve that allows businesses and individuals to request and receive payments in real-time. This service is enabled by the FedNow Service, which is a new 24/7 real-time gross settlement (RTGS) service that was launched in 2021.

With RfP FedNow Real-Time Requests, businesses and individuals can create a payment request that includes details such as the amount due, the due date, and other relevant information. The recipient can then review the request and approve it, initiating a real-time payment that is processed through FedNow.

This service is designed to provide an alternative to traditional payment methods that can take days to process and settle. With RfP FedNow Real-Time Requests, payments can be settled in seconds, providing faster access to funds and improved cash flow.

It's important to note that RfP FedNow Real-Time Requests are only available through participating banks and financial institutions that are connected to the FedNow Service. Additionally, there may be fees associated with using this service, so it's important to work closely with your bank to understand the costs and requirements.

Features & Benefits

FedNow instant payments has benefits for all parties involved in Financial Transactions.
Benefits to your company include:
Money Transfer: Current limit of $1,000,000 ~ FedNow, $10,000,000 ~ RTP.
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."

Our Real-Time Payment Platform Hub

Process with the Real-Time Request Professionals