TabaPay Clients can use Real-Time Payments (RTP) to send payments real-time, receive payments real-time, and request for payments real-time RfP. While the share is increasing, only select US Routing Numbers are enabled for Real-Time Payments (RTP). Before initiating a payment, TabaPay allows Clients to quickly query if a Routing Number is enabled or not.

Note: Request for payment (RfP) generates a request to the Sender who then initiates a Send Payment request via RTP.

Send Funds via RTP

• Enable RTP Send
• Use TabaPay's API to initiate "Send" (Push) Payments

Receive Funds via RTP

• Enable RTP Receive funds
• "Receive" only model or enable alongside Send

Request for Payment via RTP

• Enable RTP Receive funds
• "Receive" only model or enable alongside Send

Use Cases

• Person to Persion P2P: Friends splitting monthly rent and utility payments, or sending emergy funds to a family member on vacation.

Instant Send, Receive, and Request for Payment opens up several use cases and new payment flows for TabaPay Clients.

Person to Person (P2P)

• Friends splitting monthly rent and utility payments.
• Sending emergency funds to a family member on vacation.

Consumer to Business (C2B)

• Individual paying for services around the house such as the gardener, cleaning services or childcare provider.
• Day trader sending real-time money transfers to his/her investment account to take advantage of opportunistic.

Account to Account (A2A)

• DDA to Savings, Brokerage, and Digital wallets.

Business to Consumer (B2C)

• Earned & early wage access.
• Business paying employees off cycle.
• Utility company requesting payment for services from a business consumer.
• Retail banking distributing personal loan proceeds to dealership on behalf of customer buying a car at showroom
  Insurance company adjustor reviewing a claim, providing funds immediately to policy holder after determining the settlement amount.
• Large corporation paying employees for travel expenses in time for payment of corporate credit cards.
• Travel and Expenses (T&E) reimbursements.

Business to Business (B2B)

• Small businesses paying an invoice for receive goods or services.
• Restaurateur paying a local farmer for fresh produce.

Benefits of RTP

1. 24/7: The RTP System is available for customers to send or receive payments at any time and do not need to establish intermediary accounts
2. Immediate Availability: Payments to customers are received within seconds of having been sent.
3. Payment Certainty: Payment Senders receive confirmation that their payment was successful (or rejected) within seconds.
4. Support for Value Added Products: RTP System provides messaging capability enabling a Request for Payment or a Request for Information about a Payment.
5. Security: The RTP System employs industry best practices to ensure the safety and security of the network. All Messages originate and terminate within a trusted bank network that meets stringent security and privacy protection standards.
6. Account Data Privacy: The RTP System will support token functionality to help protect Sender and Receiver account credentials as they are transmitted through the RTP System.
7. Cash Flow Control: Immediate Payments gives Participants' Customers more control over cash flow, which is particularly important for cash-constrained small businesses and consumers.
8. USD $1MM Transaction Limit: Send up to one million in USD.
9. Adaptability: The RTP System has a flexible architecture to adapt to changing market needs.
10. Global Standards: The RTP System utilizes the ISO 20022 international standard for its Message formats.
11. Risk-free Account Funding: Request for payments (RfP) ensures risk free account funding for crypto, business vault, gambling and brokerage accounts.

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RTP Recipes!

Get going on your The Clearing House's Real-Time Payments use cases faster by using ready-to-cook recipes for:

Send

Request for Payment

Note: For RTP receive, the bank only needs to be enabled for RTP payments.

RTP Integration

TabaPay enables you to check if the Routing Number of a bank is enabled for RTP. Once you confirm eligibility, proceed to process the RTP transaction using TabaPay's Unified API.

Query Bank API

The following recipe shows a request using the routingNumber, and returns with a response of RTP:true

Create Account API

TabaPay strongly encourages Clients to create TabaPay tokens via TabaPay's Create Account API for a bank routing number and account number combination. These created accounts are then used to send funds to or pull from in the next step, i.e. Create Transaction API.

Create Transaction API

'Pull' or 'Push' depending on whether you want to do an outbound or inbound RTP Credit Transfer respectively. Make sure to include ACH Options of RTP in the Create Transaction API Request.

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Requirements from Enabled Bank(s)

Your bank(s) that are enabled for RTP may include specific data fields including name, or merchant name for the RTP bank statement.

Note: pulloptions.expirationDate is required on all RTP RfP (pull) Transactions.

Create RTP Push Request

RTP transaction requires the field achOptions with value R for RTP. For descriptions of fields, refer to Create Transaction.

{
"referenceID": "myUniqueRefID3",
"corresponding": {
    "name": {
        "first": "Ultimate",
        "last": "Debtor"
    }
},
"type": "push",
"accounts": {
    "sourceAccountID": "*redacted*",
    "destinationAccount": {
        "bank": {
            "accountNumber": "111111111",
            "routingNumber": "011001234",
            "accountType": "C"
        },
        "owner": {
            "name": {
                "first": "CreditorFirstName",
                "last": "CreditorLastName"
            }
        }
    }
},
"achOptions": "R",
"amount": "100.00"
}

Create RTP Push Response

{
  "SC":200,
  "EC":"0",
  "transactionID":"A0oH0E4EiWloxnwr75liQg",
  "networkID":"5BABCD1111111111",
  "network":"RTP",
  "networkRC":"000",
  "status":"COMPLETED"
}

Get Started with some Code Samples!

Learn how RTP works using the TabaPay API.

RTP Reporting

RTP Reporting is sent using the Transactions (Daily) files.