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Cross River Launches Request for Payment (RfP) to Power Smarter, Real-Time Money Movement

Fintech Finance

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.

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Unlocking Instant Inbound Payments: Cross River Launches Request for Payment Solution

Trade Credit & Liquidity Management

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.

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Cross River Unveils Request-for-Payment for Real-Time Pay-Ins

The Fintech Times

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. The RfP capability aims to address delays in inbound payments, which often rely on traditional ACH and wire transfers.

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Instant ACH Transfers Online

Payment Savvy

Instant ACH Transfer Alternatives RTP Network The RTP (Real-Time Payments) Network, launched by The Clearing House, is an alternative option for those seeking instant money transfers. The RTP Network enables real-time transactions for various use cases, such as B2B and P2P transactions, payroll, and Request for Pay (RfP) services.

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How FedNow will Disrupt Vendor Payments

Nanonets

Over time, business payments have evolved from ACH to wire transfers and credit cards, culminating in the emergence of FedNow. ACH is economical but slow, wire transfers are quicker but costly, and credit cards, though convenient, come with extended settlement times and high fees.

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Real-Time Payments: What’s Ahead, and How to Fight Fraud

FICO

Request for pay (RfP) . From my mobile banking app, I can even initiate a wire transfer, which in days past was reserved for making large purchases (like a house) or sending money abroad. P2P real-time transactions. The Federal Reserve is a second key player.

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What Is FedNow & How Can Businesses Prepare for It?

Seon

The Federal Reserve has always allowed financial institutions to send and receive funds – including bill and vendor payments, deposits, and wire transfers – to one another on behalf of their customers. This is alongside small per-transaction fees, including those for the initial request for payment (RFP) messages.

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