Faster Payments Council

JULY 21, 2020

The bank bill pay model where the consumer interacts with its online/mobile banking platform to request a payment be sent to the biller's bank.

Faster Payments

Fintech Finance

MAY 8, 2024

Spearheaded by the FPC Real-Time Recurring Work Group (RTRWG), sponsored by BNY Mellon , the new report delves into key components essential for the successful deployment of instant recurring payments. For those reasons, the FPC urges all system participants to adopt the recommendations in this report.”

Faster Payments

PYMNTS

APRIL 2, 2019

BBP enables only payment of bills from participating businesses, meaning certain invoices cannot be reconciled. . They also provide request for payment (RFP) messaging that ensures eInvoice details, due dates and additional details are also immediately available, streamlining billing and payments in fields like utilities.

Real Time Payments

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.

FedNow