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Cross River Bank (“Cross River”), a technology infrastructure provider that offers embedded finance solutions, announced the launch of Request for Payment (RfP), a transformative addition to its growing suite of instant payment capabilities. RfP is a smarter, more flexible way to receive incoming funds.
From a Press Release dated June 9, 2025, Fort Lee, NJ Cross River Bank has launched its Request for Payment (RfP) solution, a new feature designed to enable secure, real-time inbound payments via the RTP® (Real-Time Payments) network.
Cross River , a banking infrastructure provider, has launched Request-for-Payment (RfP) on the RTP® network, with fintech platform Plaid as the first user enabling instant pay-ins for online used car seller Carvana. RfP is a smarter, more flexible way to receive incoming funds.
In addition to providing support for sending instant payments, Modern Treasury also supports the ability to access the “Request for Payment (RFP)” capability at a growing number of banks. With the rise of new payment use cases and heightened customer expectations, the demand for faster payments in the U.S.
Companies like Starbucks , CVS , Dunkin ’, Chick-fil-A and many other successful businesses have long provided engaging customer payment experiences with their closed-loop wallets, but had to rely on funding those accounts with conventional payment sources like debit/credit cards or ACH. Outside the U.S.,
He said increased sharing of account information through third-party apps supports consumers’ desires, but it is not without its risks. That “something” has a lot to do with account tokenization, which has a lot going for it as an anti-fraud tool. As far as safety is concerned, Waterhouse focused on third-party apps. The EIP Rollout.
“The value that’s been incorporated into the solutions is a lot more than just the speed of the payment, and that’s driving people to get excited,” she said. Among the value-added features lies the ability to have immediate and automated payment status updates. RTP And RFP.
Banks in the Treasury Prime network can offer their BaaS clients a real-time payments platform via Narmi’s FedNow service. Narmi supports all of the FedNow offerings, including the ability to receive funds, send money to linked and external accounts, and request for payment (RFP).
BD provides payers with information like amounts, due dates and posting dates, but not about payers’ linked bank accounts. BBP enables only payment of bills from participating businesses, meaning certain invoices cannot be reconciled. . That can lead to identity verification problems, resulting in returned or delayed transfers.
In Accounts Payable, the importance of vendor payment methods often goes unnoticed despite their substantial influence on the overall cash flow, efficiency of the AP team, and profit margins. The US Federal Reserve's new payment rail FedNow can shake up the landscape, offering significant time and cost savings.
It offers the ability to utilize instant payment services to customers of any sized bank and credit union. The customers of such financial institutions can use their institution’s app or website to send instant payments directly from their bank accounts.
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