Request The Payments

What is Request The Payments

Request The Payments is an exciting new service brought about by the Faster Payments Initiative of the FedNow ™ US Federal Reserve providing payments that are instant, final (irrevocable - "good funds") and secure.

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. Funds are available for use by the receiver and real-time confirmation is provided to both you ("the sender") and receiver in seconds. Most Good Funds transactions are "Credit Push" versus "Debit Pull."

QuickBooks Online (QBO) and QuickBooks Payments provide versatile invoicing and payment functionalities that cater to a wide range of payment scenarios, including one-time B2B or C2B payments, on-delivery payments, just-in-time payments for inventory, and recurring payments for variable or stable amounts. Here's how these scenarios can be facilitated within the QBO ecosystem:

  1. One-time B2B or C2B Payments:
    • Businesses can create and send invoices for one-time transactions to other businesses (B2B) or consumers (C2B) using QuickBooks Online.
    • The invoices can include details such as item descriptions, quantities, prices, and payment terms.
    • QuickBooks Payments integration allows recipients to make immediate payments using various methods such as credit/debit cards, ACH bank transfers, or other supported payment options.
    • Businesses receive instant notifications upon payment, and transactions are automatically recorded and reconciled within QBO.
  1. On-delivery Payments:
    • For scenarios where payments are collected upon delivery of goods or services, businesses can utilize QBO's mobile invoicing feature.
    • Invoices can be generated on-the-go using the QuickBooks mobile app and sent directly to customers' devices.
    • Customers can make payments upon receipt of goods or services using QuickBooks Payments through the invoice link, ensuring seamless payment processing.
  1. Just-in-time Payments for Inventory:
    • QuickBooks Online offers inventory management features that enable businesses to monitor stock levels and reorder inventory as needed.
    • Businesses can create purchase orders within QBO to request inventory from suppliers.
    • Suppliers can generate invoices for the requested goods, which are then sent back to the business through QBO.
    • Businesses can review, approve, and make payments for the invoices using QuickBooks Payments directly within QBO.
  1. Recurring Payments:
    • QBO supports recurring invoicing for both variable and stable amounts.
    • Businesses can set up recurring invoices with variable amounts (e.g., monthly subscriptions, service retainers) or stable amounts (e.g., rent payments).
    • QuickBooks Payments allows customers to make recurring payments automatically using credit/debit cards or bank transfers, providing convenience for both parties.
    • Businesses can manage and track recurring payments within QBO, ensuring accurate accounting and cash flow management.

By leveraging the invoicing and payment features of QuickBooks Online and QuickBooks Payments, businesses can efficiently manage a variety of payment scenarios, whether they involve one-time transactions, on-delivery payments, just-in-time inventory purchases, or recurring payments for variable or stable amounts.

 


About Request The Payments

RfP FedNow Request The Payments is a payment system designed to facilitate payments between parties in real-time. It can be used to pay for both services and products. The main difference between services and products is that services are intangible, while products are tangible.

When paying for a service, the payment is typically made for the value of the service provided by the service provider. Examples of services that can be paid for using RfP FedNow Request The Payments include consulting services, professional services, and other types of services that do not involve the exchange of tangible goods.

When paying for a product, the payment is typically made for the value of the physical or digital product that the buyer is purchasing. Examples of products that can be paid for using RfP FedNow Request The Payments include consumer goods, electronics, software, and other types of tangible or digital products.

Regardless of whether the payment is for a service or a product, RfP FedNow Request The Payments can be used to facilitate real-time payments between parties.


Features & Benefits

FedNow instant payments has benefits for all parties involved in Financial Transactions.
Benefits to your company include:
Text Mobile Request for Payment 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."


Our Real-Time Payment Platform Hub


Today Payments

...continues to meet the challenge of our clients by offering cost effective "good funds", real-time, instant, credit card, ACH and e-invoice payment processing services into the electronic payment solutions banking system. Electronic banking includes the transfer of funds between companies (B2B) and/or (B2C) consumer accounts for collection and payments. Today Payments Gateway Merchant Services gives your company choices in the method of faster payments that you can accept from your customers.
Our payment processing platform is designed for simplicity and ease-of-use.
SecureQB Cloud payment processing integration for QuickBooks ® give you the Best transaction detail information, real-time, with matching error-proof through QuickBooks.

Process with the Request The Payments Professionals

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  • Automation of Accounts Receivable Collection with Real-Time Settlement & Deposit
  • Automation of Accounts Payable Payments with Real-Time Settlement & Deposit
  • One-Time & Recurring Real-Time Credits with Settlement & Deposit

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 The Payments payment processing