Enable FedNow to receive funds instantly from senders through the FedNow Service by The Federal Reserve. This payment method is ideal for platforms that wish to support real-time incoming transactions for their customers.

As the adoption of FedNow gros, more Routing Numbers are becoming eligible, allowing broader access to instant payment capabilities.

Clients can enable FedNow Receive alongside other FedNow capabilities: Send, and RfP.

Note: Before enabling FedNow receive functionality, clients can verify if their institution’s US Routing Number is FedNow-enabled, ensuring compatibility with the FedNow network.

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Only for Routing Numbers Eligible for FedNow

While you can receive instantly via FedNow, it is possible only when the Sender Financial Institution also participates in the FedNow network.

The Sender's Financial Institution initiates the origination of funds via the FedNow network, and the FedNow network then moves funds instantly into the TabaPay Client's Sponsor Bank.

Use Cases

Business-to-Business (B2B) Payments

• A small business sells products or services and receives payment instantly.
• A local farmer or food supplier delivers produce to restaurants and receives payment instantly.
• A construction subcontractor or freelancer receives payment after completing work.
• A small eCommerce business receives payments directly into its bank account without intermediaries.

Account-to Account transfers (A2A)

• A consumer receives an automated savings deposit from their employer or primary account.
• A brokerage account receives a real-time deposit from an investor’s bank account.
• A business with multiple bank accounts transfers funds in real time to optimize cash flow.
• A digital wallet receives an instant funding transfer.

FedNow Receive Payment Flow

1. Inbound credit transfer received from FedNow.
2. TabaPay sends inbound credit transfer.
3. Sponsor Bank returns with the credit transfer authorization response.
4. TabaPay sends the pacs.002 message to FedNow.
5. TabaPay sends the credit transfer acknowledgement to the bank.

How FedNow Receive Works

Sample Customer Flows for Receiving Payments via FedNow

The following illustration is an example customer workflows on a platform that uses receives payments via FedNow.

Reports

FedNow reporting will be the same layout for Cards for Daily Transaction Reporting.