Real-Time Payments (RTP) and FedNow are separate individual bank payments on completely separate networks. You can integrate with both payment systems on your platform to help provide a unified experience for wider coverage for your customer payment flow. RTP and FedNow can be used as dual-network routing for any Payment Service Provider (PSP), or payments platform.

With a multi-rail instant payments strategy, you can offer better uptime and redundancy across allowing payments to seamlessly switch networks without disruption.

Use Cases

Instant Payouts for Gig Workers or Freelancers: Offer immediate payouts and improve worker satisfaction by providing quick access to earnings.
Emergency Fund Transfers: Facilitate real-time disbursement of critical funds during emergencies, such as insurance payouts for account funding, disaster relief, or government assistance programs.
Wider Network Coverage: Add RTP and FedNow to expand and diversify your network payment options to help optimize your payment flow.

Benefits of RTP and FedNow

Increased Payment Coverage: Ensure broad accessibility and redundancy, allowing users to send and receive payments regardless of their bank's affiliation or network preference.
Enhanced Speed and Reliability: Leverage two real-time payment networks for faster transaction processing and reduces the risk of downtime, ensuring a seamless payment experience for users.
Reliable Payment Options: Offering dual-network support positions the platform as a forward-thinking solution, catering to diverse client needs and regulatory requirements while boosting trust and market competitiveness.

Unified RTP and FedNow Workflow

RTP - Client Priority Example

Sender submits the transaction.
Client checks the client priority.
Client sends Create Transaction request.
TabaPay sends request to TCH.
The request and file format is validated.
TCH sends request to receiving FI.
Receiving FI sends confirmation response.
TCH settles the payment.
TCH notifies the Sending FI, and the Receiving FI.
TabaPay sends the response to the client, and the Receiving FI posts funds to the receiving account.
Client notifies the sender, and the receiver with confirmation messages.

FedNow - Client Priority Example

Sender submits the transaction.
Client checks the client priority.
Client sends Create Transaction request.
TabaPay sends request to FedNow
The request and file format is validated.
FedNow service sends request to receiving FI.
Receiving FI sends confirmation response.
FedNow settles the payment.
FedNow notifies the Sending FI, and the Receiving FI.
TabaPay sends the response to the client, and the Receiving FI posts funds to the receiving account.
Client notifies the sender, and the receiver with confirmation messages.

How Unified RTP and FedNow Works

To send a FedNow payment through the TabaPay API, follow the outlined steps.

Simplified Flow

A simplified FedNow Payment Flow can be summarized:

Client sends Query Bank request (Optional) to verify the bank enablement for FedNow or RTP.
Client checks their priority for TCH or FedNow: identifies FedNow as the priority.
TabaPay client sends a Create Transaction push request.
TabaPay will forward this request to the FedNow network.
TabaPay will return the results of the transaction in the response (informing you if it was a successful transaction or not).

1. Query Bank

You send the Query Bank API request.

Query Bank Request

{
  "routingNumber": "123456789"
}

Query Bank Response

{
  "SC": 200,
  "EC": "0",
  "RTP": true,
  "FedNow": true
}

2. Client Priority

You check the client priority on what network is the preferred client routing priority: FedNow shown.

3. Create Transaction

Create Transaction Request

You send the Create Transaction API request to TabaPay.

Request Body Parameters

FedNow and RTP transactions with type: push will push funds into an account. To Create a transaction using the FedNow, or RTP service, including the following in the request body:

For FedNow, include F value in the achOptions field, OR
For RTP, include R value in the achOptions field.
Add and fill the bank object in the destinationAccount object with the designated bank information.
Be sure to include the common fields for transactions found in Recipes section including referenceID, corresponding object, type, owner, and amount.

What is the bank object?

The bank object is under the destinationAccount object for a push transaction. Create Transaction describes the fields in the request.

{
	"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": "F",
	"amount": "100.00"
}

{
"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 Transaction Response

Create Transaction describes the fields in the response.

{
  "SC":200,
  "EC":"0",
  "transactionID":"EvgK1dpGQUenHZ2vRIxXzc",
  "networkID":"93D09O1111111111",
  "network":"FedNow",
  "networkRC":"000",
  "status":"COMPLETED"
}

{
  "SC":200,
  "EC":"0",
  "transactionID":"9Wvkd3GoywINGw2s9dsIz5",
  "networkID":"5HW1PK1111111111",
  "network":"RTP",
  "networkRC":"000",
  "status":"COMPLETED"
}

Recipes

Refer to the following recipes for RTP or FedNow examples.