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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-TimePayments) network.
As they work to achieve this, more companies are ditching paper-based methods and embracing digital solutions that streamline payments and reconciliations. Some financial institutions (FIs) are seeking to help their corporate clients tap into real-timepayments (RTP) to keep up the pace. . “We as an example.
Fifty-four faster payment schemes — and counting. Real-timepayments are on the radar for most banks, and the opportunity is there to grow top lines and cement customer relationships. Other value propositions include mobile devices enabled to do push payments.
This means that when you make a payment, the money will be available in the recipient’s account within seconds. This is a significant improvement over current payment systems, which can take several days to process. Regulatory compliance: Banks are required to meet certain liquidity standards set by regulators.
As real-timepayments (RTP) gain traction with consumers via peer-to-peer (P2P), the pump may be primed for business-to-business (B2B) transactions to follow suit. Key among those conduits, of course, is the Clearinghouse RTP network, where commercial real-timepayments made their debut in the U.S.
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