What is FedNow® Service Provider & Alias-Based Transfers?
Instant A2A Transfers Without Banking Details
Facilitation for FedNow® Service Provider –
Instantly Send & Receive Alias-Based Payments
The Future of Instant Business & Consumer
Payments
Legacy financial institutions rely on slow
transactions, high fees, and outdated payment structures.
Traditional money service providersand banks require
manual processes, bank visits, and complex verification steps for
even the simplest transactions.
With FedNow® as a real-time service provider,
businesses and individuals can now send and receive payments
instantly without requiring traditional banking details. Users can
facilitate transactions using:
✅ Cell Phone Numbers – Send
and receive payments using a mobile number
✅
Email Addresses – Secure, fast, and convenient alias-based
transactions
✅ Monikers & Nicknames – Custom
identifiers to protect privacy
Additionally, FedNow® supports one-time and
recurring batch payments, making it an ideal solution for businesses
automating payroll, supplier payments, and customer transactions.
Through ISO 20022 pain.001 messaging, all transactions are secure,
automated, and efficiently processed in real time.
With TodayPayments, a premier FedNow® merchant payment processor who is NOT a bank, businesses and individuals can complete transactions online without visiting a bank or money center.
FedNow® vs. Legacy Money Service Providers
FedNow® allows users to send and receive
payments without sharing full banking details. Transactions
can be facilitated using:
✔ Cell Phone Numbers –
Payments directly linked to mobile numbers
✔
Email Addresses – Secure alias-based transactions for added
convenience
✔ Monikers & Nicknames – Custom
identifiers for improved privacy
ISO 20022 pain.001: The Secure Standard
for One-Time & Recurring Batch Payments
ISO 20022 pain.001 is an internationally
recognized payment messaging format ensuring:
✔ Automated & Secure Payment
Processing – Structured, error-free transactions
✔
Batch Payment Capability – One-time and recurring variable
payments
✔ Fraud Protection & Secure Messaging
– Reduces financial risk
✔ Seamless Financial
Integration – Works with banks and financial institutions
By leveraging ISO 20022 messaging,
TodayPayments ensures every transaction is structured, secure, and
efficiently executed.
FedNow® vs. Legacy Money Service
Providers
How FedNow® Outperforms Traditional Money
Transfer Services
Legacy money service providers and
traditional banks operate on slow, costly, and outdated financial
systems.
|
Feature |
FedNow® Real-Time Payments |
Legacy Money Services |
|
Alias-Based Payments |
Yes (Phone, Email, Moniker) |
No (Requires Full Banking Details) |
|
Transaction Speed |
Instant, 24/7/365 |
1-5 Days (ACH, Wire Delays) |
|
One-Time & Recurring Batch
Payments |
Yes (Automated via ISO 20022) |
No (Manual Processing & Delays) |
|
ISO 20022 pain.001 Messaging |
Yes (Automated, Secure, Traceable) |
No (Limited Tracking & Manual
Reconciliation) |
|
Transaction Fees |
Lower, Transparent |
Higher, Hidden Fees |
|
No Bank Visit Required |
Yes (Online Transactions Only) |
No (Requires Physical Bank Visit) |
|
Security & Privacy |
High (Alias-Based & Encrypted
Transactions) |
Low (Full Account Details
Required) |
Ask us how:
"Facilitating FedNow® Real-Time Payments
with alias-based transactions"
"How to send FedNow®
instant payments using a phone number or email"
"ISO
20022 pain.001 messaging for secure A2A credit transfers and batch
payments"
"Compare FedNow® with legacy money services"
"MOTO, POS, Mobile RfP & invoicing via
email or text using FedNow®"
Why Businesses & Consumers are
Switching to FedNow® Service Provider Solutions:
✔ No banking delays – Payments settle in
real time
✔ No hidden fees – Transparent,
cost-efficient transactions
✔ No manual errors
– Automated batch payments ensure accuracy
How FedNow® Works for B2B, B2C, C2B &
C2C Transactions
Instant, Alias-Based, & Recurring
Transactions for Every Industry
FedNow® empowers businesses and individuals
by eliminating banking inefficiencies and allowing instant
payments via multiple digital channels.
B2B Transactions:
Automate supplier payments, invoicing, and payroll
B2C Transactions: Enable instant refunds, customer payouts,
and e-commerce transactions
C2B
Transactions: Accept payments from customers with mobile,
text, or email payment requests
C2C
Transactions: Secure peer-to-peer transfers using aliases,
phone numbers, or emails
How It Works:
✔
Step 1: The payer enters the recipient’s alias (phone
number, email, or moniker)
✔ Step 2:
The ISO 20022 pain.001 message is securely processed in
real-time
✔ Step 3: The recipient’s
financial institution identifies the alias and deposits funds
instantly
✔ Step 4: Transaction
confirmation is sent, and funds are available immediately
For businesses, FedNow® enables:
✔ MOTO (Mail Order / Telephone Order) transactions
✔ POS (Point-of-Sale) payments for in-person
transactions
✔ Mobile RfP (Request-for-Payment)
for on-the-go invoicing
✔ Invoicing via email or
text with .html links embedded
Security & Compliance with ISO 20022
Messaging
How FedNow® Ensures Secure, Fraud-Free
Payments
Unlike traditional money service providers,
FedNow® transactions are designed with security and compliance as
a priority.
✔ Automated Payment
Reconciliation – Reduces human errors
✔
Encrypted End-to-End Transactions – Protects against fraud and
cyber threats
✔ Regulatory Compliance –
Meets global financial security standards
✔
Irreversible Transactions – Prevents fraud risks and
chargebacks
With TodayPayments, businesses and
individuals gain access to instant, structured, and secure
financial transactions—without relying on banks or intermediaries.
Accept FedNow® Alias-Based & Batch
Payments with TodayPayments
Legacy money service providers and
banks are no longer the best option for modern businesses and
consumers. FedNow® provides a faster, more efficient, and
cost-effective solution.
With
TodayPayments, a premier FedNow® merchant payment processor, you can:
✔ Enable instant A2A payments using alias-based
identification
✔ Automate one-time and recurring
batch payments for payroll, invoicing, and supplier transactions
✔ Accept payments via MOTO, POS, Mobile RfP, or
email/text with .html links
✔ Reduce fees and
eliminate costly chargebacks
✔ Offer 24/7
real-time payments with structured ISO 20022 messaging
Upgrade to the future of
real-time payments—switch to FedNow® today!
Creation Request for Payment Bank File
Enhance Your FedNow Service Provider Payment Requests with FedNow’s ISO 20022 Messaging
Streamline Payments with Advanced Request for Payment Options:
Harness the power of FedNow's Request for Payment system to transform how you manage invoices and remittances. Our platform supports diverse data integration options, allowing payees to incorporate detailed invoice data directly within the RfP message or link to a comprehensive Merchant Page.
Flexible Invoice Details with ISO 20022 Messaging:
Leverage the flexibility of ISO 20022 messaging standards in our RfP system. You can choose to display crucial payment details directly in the message with a concise 140-character description, or through a dynamic "Hyper-Link" leading to a detailed Merchant Page. This Merchant Page can be hosted either on your website or TodayPayments.com/HostedPaymentPage.html through our seamless integration solution.
Customizable Merchant Pages for Enhanced Customer Experience:
Create a Merchant Page that not only details all the MIDs you own but also presents these options attractively to your customers through the RfP. This customization ensures that whether your payer opts for Real-Time Payment, Same-Day ACH, or Card transactions, they can easily navigate and complete their payments through a simple click on the hyperlink provided on your Merchant Page.
Call us today and receive the .csv or .xml FedNow® or Request for Payment (RfP) file you need—all during your very first phone call! We guarantee that our comprehensive reports integrate flawlessly with your bank or credit union. As pioneers in recognizing the benefits of RequestForPayment.com, we have stayed years ahead of our competitors. Although we are not a bank, our role as an "Accounting System" within the Open Banking ecosystem enables us to work with billers to create effective RfP files that seamlessly upload to the biller's online banking platform. U.S. companies rely on our expertise to learn how to deliver the RfP message directly to their bank with precision.
Our advanced solution, Today Payments' ISO 20022 Payment Initiation (PAIN.013), demonstrates how to create a Real-Time Payments Request for Payment file that sends a clear message from the creditor (payee) to its bank. Most financial institutions support the import of messaging and batch files for both FedNow® and Real-Time Payments (RtP), ensuring smooth processing. Once the file is correctly uploaded, the creditor’s bank processes the payment through a secure "Payment Hub"—with The Clearing House serving as the RtP Hub—and relays the message to the debtor's (payer's) bank. This streamlined approach not only accelerates transaction processing but also enhances transparency and reliability for all parties involved.
... easily create Instant Payments RfP files. No risk. Test with your bank and delete "test" files before APPROVAL on your Bank's Online Payments Platform. Today Payments is a leader in the evolution of immediate payments. We were years ahead of competitors recognizing the benefits of
Same-Day ACH and Real-Time Payments funding. Our business clients receive faster availability of funds on deposited items and instant notification of items presented for deposit all based on real-time activity. Dedicated to providing superior customer service and industry-leading technology.
Contact Us for FedNow Service Provider payment processing pricing
