Real-Time Payments at the speed of life ™ ~
Request For Pay Invoicing
What is Request For Pay Invoicing
Request For Pay Invoicing is an exciting new "digital overlay service" facilitating real-time payments through instant invoicing using RfP
™payments that are instant, final (irrevocable - "good funds") and secure. A
Request For Pay Invoicing, RfP
™, is also referred to as a
Request to Pay, RtP.
Both terms, Request For Pay Invoicing and Request to Pay are generic umbrella terms for a number of scenarios in which a payee ( Biller ) takes the
initiative to request a specific payment from the payer ( Customer ).
The basic idea behind Request For Pay Invoicing, or RfP
™, is to simplify payments through digital Invoicing. With RfP
™, no printed Invoicing are sent to the customer; rather they
are sent electronically via a platform directly into the customer's online banking system, where the
customer can manage his Invoicing. In addition to the environmental advantage, the risk of errors being
inadvertently introduced by the customer when making the payment is eliminated, the distribution of
the payment initiation details being done electronically and instantly. The combination of Request For Pay Invoicing technology and
real time payments, will enable an alternative to direct debit and biller-direct models, providing more optionality for different customer segments, reducing time, inconvenience and risk of inaccuracy for payers and billers alike.
Fundamentally, a Request For Pay Invoicing enables a payee (person,
business or other account
holder) to make a request for initiation by a payer
(person, business or other account
holder) of a payment. The main purpose of a request to
pay is to:
~ Ensure verified payee data is provided to the payer
before the payment initiation;
~ Provide ease of use to the payer, who has minimal
data to enter for a payment;
~ Provide confirmation of issuance of a payment order
to the payee; and
~ Facilitate reconciliation of the related payment both for the
payee and the payer.
About Request For Pay Invoicing
Today Payments is a leader in the evolution of instant real-time payments. We were years ahead of competitors recognizing the benefits of Real-Time Payments funding through Real-Time ACH (ACH Push and Pull) and Instant Direct Deposit. Our customers 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. Our platform with its tools / widgets help organizations of all sizes reduce transaction costs, mitigate risk and increase efficiencies. Our system ensures proper Authentication, Authorization, Verification, Settlement, Notifications and Postings.
Today Payments
...Request For Pay Invoicing makes Real-Time Payments possible as a digital overlay service. RfP ™payments, is considered as a key element in an evolving payments landscape shaped by developments such as Open Banking and real-time payments. Request For Pay Invoicing solutions are aimed at further increasing certainty, transparency and convenience when making and receiving payments. Request For Pay Invoicing, will play the pivotal role in the context of real-time electronic Invoicing presentment and payment, where it is seen as a means to speed up the end-to-end process and ease reconciliation processes in particular.
Process with the Request For Pay Invoicing Professionals
- Automation of Accounts Receivable Collection with Real-Time Settlement & Deposit
- Automation of Accounts Payable Payments with Real-Time Settlement & Deposit
- One-Time & Recurring Debits & Credits with Real-Time 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 For Pay Invoicing payment processing
