Start Your FedNow® Business Account with Today Payments

Enhance Your B2B Payments with FedNow®

FedNow® Business Account: The Key to Instant Payments & Financial Efficiency

What is a FedNow® Business Account?

A FedNow® Business Account enables companies to send and receive real-time payments instantly, 24/7/365. Developed by the Federal Reserve, FedNow® eliminates ACH delays, wire transfer fees, and check processing time, allowing businesses to improve cash flow, reduce transaction costs, and enhance operational efficiency.

Unlike traditional business banking, which relies on batch processing and limited hours, a FedNow® Business Account ensures instant settlement for transactions, helping businesses manage finances seamlessly and maintain a competitive edge.

Benefits of a FedNow® Business Account

✅ 1. Real-Time Payments, 24/7/365

- No more waiting for bank hours—FedNow® processes payments instantly, even on weekends and holidays.

- Businesses can receive funds in seconds, allowing for faster access to working capital.

✅ 2. Enhanced Cash Flow & Liquidity

- Say goodbye to delayed invoices and waiting for ACH transactions to clear.

- Instant access to receivables allows businesses to reinvest funds quickly and manage expenses better.

✅ 3. Lower Transaction Costs Compared to Wire Transfers

- FedNow® transactions are more cost-effective than expensive wire transfers.

- Avoid processing fees associated with ACH batch transactions and check handling.

✅ 4. Secure & Final Transactions

- No chargebacks or reversals—FedNow® transactions are final and cannot be disputed.

- Built-in fraud protection ensures safe and compliant financial transactions.

✅ 5. Stronger Supplier & Vendor Relationships

- Faster payments help businesses negotiate better terms with vendors.

- No more late fees or penalties due to slow banking processes.

How Does a FedNow® Business Account Work?

1️ A business initiates a payment request using the FedNow® network.
2️ The funds are instantly transferred to the recipient’s bank account.
3️ Both the sender and recipient receive immediate confirmation.
4️ The transaction is final, with no delays or reversals.

Unlike traditional ACH, which takes 1–3 days, or wire transfers with high fees and cutoff times, FedNow® ensures instant, cost-effective B2B and B2C payments.

Who Needs a FedNow® Business Account?

Small Businesses & Startups – Avoid cash flow gaps with real-time invoice payments.
Enterprises & Corporations – Optimize high-volume transactions and supplier payments.
E-commerce Businesses – Process payments instantly and reduce abandoned transactions.
Freelancers & Contractors – Get paid immediately without ACH or check delays.
Financial Institutions & Fintech Companies – Integrate FedNow® to enhance payment processing capabilities.

FedNow® Business Account vs. Traditional Business Banking

Feature	FedNow® Business Account	Traditional Business Banking
Speed	Instant (seconds)	1–3 days (ACH), same-day (wire transfers)
Availability	24/7/365	Limited to banking hours
Transaction Fees	Lower than wire transfers & ACH	Higher fees for wires, ACH, and checks
Settlement Finality	Immediate & irreversible	ACH can be reversed, checks can bounce
Best For	B2B, payroll, supplier payments, online transactions	Batch payments, high-value wire transfers

How to Open a FedNow® Business Account

🔹 Check with Your Bank – Verify if your financial institution offers FedNow® Business Accounts.
🔹 Set Up FedNow® Access – Enable real-time payment capabilities through your bank or fintech provider.
🔹 Integrate with Accounting Software – Platforms like QuickBooks®, NetSuite, SAP, and others can streamline payment processing.
🔹 Train Your Finance Team – Educate employees on using FedNow® for more efficient transactions.

Future-proof your business with a FedNow® Business Account! Contact your bank today to enable real-time business payments and improve financial efficiency.

Creation Request for Payment Bank File

Enhance Your FedNow Business Account 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.