This alert may not be shared outside your organization, Do Not Repost or send, place on other websites, List servers, or send to others via email, including other associations or parties. Members and Law enforcement use only. Contact us for any permissions. To do otherwise will result in the loss of membership.
Complete Story
02/21/2021
Report: Request For Payment Seen By Banks As Real Time Payments Game Changer
PYMNTS.com
Businesses waiting to get paid can face significant financial struggles, but immediate payment methods have helped cut out delays that saw firms waiting for checks in the mail or for funds to settle into bank accounts.
Push payments sent over immediate transfer systems like the The Clearing House (TCH)’s Real-Time Payments (RTP) network can streamline these exchanges, and firms that have relied on pull payments also want access to such speeds and convenience.
Features that enable request-for-payment (RfP) messages to be sent over immediate payment networks can help fight this problem by allowing sellers to instantly reach out to their clients with billing information and prompt them to send back funds over the real-time payments systems. The transfers are also accompanied by plenty of data about the transaction, helping sellers quickly reconcile them. The February Real-Time Payments Tracker® dives into the matter and examines how RfP features are helping businesses and freelancers get paid on time and protect their cash flows.
Alerts
The FRPA alert system distinguishes us from other groups by gathering and providing information to law enforcement, retailers AND financial institutions.
more information
Resources
Your electronic library to help in fighting financial fraud for all of our partners.
more information