RTP® – Real-Time Payments
Overview
The RTP® (Real-Time Payments) API allows applications to initiate and manage real-time payment messages through The Clearing House (TCH) RTP® network securely and instantly. To enhance the implementation and onboarding experience, U.S. Bank has designed this API with ease of integration in mind.
Features
- Send transfers 24 hours a day, 7 days a week, 365 days a year.
- Initiate and manage real-time clearing and settlement of invoices.
- Subscribe to receive notifications via webhooks for specific events.
- Test API features in a sandbox environment by adding it to a project.
Workflow
Example use cases
Credit transfer messages, anytime
Your team of developers need to find a solution to help customers send money. The customers need to send money from their financial accounts to contacts using a transfer money feature. Using the RTP® API, you can allow your customers with U.S. Bank checking accounts to send payments to contacts, anytime, anywhere.
Real-time payment invoices
Your client is a handyman and works with several clients throughout the week. Mailing invoices and waiting for payments to come through is a hassle due to time and tracking. Searching for a solution, you find a software package that includes sending invoices immediately using the RTP® API. Now your client can spend less time tracking invoices and more time on other business or life needs.
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.