Irrevocability Request for Payment Rules 
Tom Groenfeldt
JULY 17, 2025
1970s, was built to move funds in bulk and in batch while today’s users increasingly expect immediacy in payments. RTP funds are irrevocable, so the receiver doesn’t have to worry non-sufficient funds or a sender trying to cancel the transaction and demand the money back. ACH, which was developed in the early.
Seon
JULY 27, 2023
FedNow works by offering banks, credit unions, and other organizations such as retailers a system where they can utilize instant payment services that go through this core process: The payer (e.g. an employer paying an employee their wages) uses an app provided by their credit union to request the desired payment.
Expert insights. Personalized for you.
Let's personalize your content