Version: 1.2

RTP® – Request for Payment

Send configurable reminders to customers, enable future or partial payments, and verify biller identity safely and securely with the RTP® – Request for Payment API.
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Overview

The RTP® Request for Payment API allows partner applications to originate and manage transactions safely and securely.

Features

  • Initiate and manage real-time clearing and settlement of invoices.
  • Verify biller identity and registration with their financial institution.
  • Send configurable reminders to customers to enhance the real-time payment experience.
  • Enable future or partial payments.
  • Test API features in a sandbox environment by adding it to a project.

Workflow

RTP - workflow

Example use cases

A customer needs to pay an electric bill. Using the RTP® Request for Payment API, the utility company’s developer team builds a Request for Payment option that notifies the customer a utility payment is due. The customer can easily submit a payment and see the Request for Payment option has completed/has been received.

Provide customers with the most immediate information

A developer for a mid-size company recently implemented the RTP® Request for Payment API. A colleague, who works in accounts payable for the company, has noticed the difference it’s made in working with vendors and partners. They can now receive requests to pay invoices in real time via Request for Payment and can immediately submit a payment in return, completing transactions within seconds.

Restrictions

  • Transaction limit is $1 million per transaction.
  • The receiving bank must be part of the RTP® network.
  • Originated credit transfer messages are irrevocable.
  • Credit push only.