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FedNow® Recurring Payment

TodayPayments.com powers real-time recurring payments for U.S. businesses by integrating FedNow® and RTP® into one seamless dashboard. Whether you're billing hundreds of clients or just want to stop chasing late invoices, we automate the entire process—from recurring Request for Payments to instant fund settlement.

To simplify and accelerate recurring payments for every business—using secure, real-time rails, intelligent data, and fintech automation that eliminates wait times, fees, and reconciliation headaches.

 

FedNow® Recurring Payments: The Smartest Way to Automate Cash Flow

FedNow Recurring Payment Real-Time Recurring Payments Are the New Standard for Business

In today’s business environment, automating payments isn’t a luxury—it’s a competitive edge. For merchants, SaaS providers, contractors, and B2B service platforms, FedNow® Recurring Payments unlock a powerful solution: instant, automated, and secure funding—without card fees or ACH delays.

FedNow® allows companies to schedule pre-authorized, "As a Debit Transaction" real-time transfers using Request for Payment (RfP) technology, combined with rich ISO 20022 data formats. Whether you’re managing subscriptions, membership dues, retainer clients, or invoice installments, FedNow® Recurring Payments ensures you get paid on time, every time—instantly.

FedNow® Recurring Payments: The Smartest Way to Automate Cash Flow

FedNow® Recurring Payments enable merchants and businesses to automate real-time incoming transactions from customers or clients on a fixed or flexible schedule.

Key Benefits:

  • ⏱ No settlement delays – Receive payments in seconds
  • 📅 Recurring schedules – Weekly, monthly, quarterly, or custom
  • 🔄 Standing authorizations – Payer only approves once
  • 💸 Cash flow certainty – Predict and plan your revenue
  • 🧾 Supports Cash and Accrual accounting for clean reconciliation
  • 🔐 No chargebacks, no credit card disputes

Who Benefits from Recurring FedNow®?

  • Subscription-based businesses (SaaS, streaming, gyms)
  • Utility companies, insurance firms, and legal retainers
  • B2B services with installment billing
  • Freelancers and agencies with long-term client contracts

Attributes of FedNow Recurring Payment for your business using instant payments

How to Set Up FedNow® Recurring Payments: Tools and File Formats

Recurring payments with FedNow® are structured around Request for Payment (RfP) messaging, paired with automated fintech workflows.

Using TodayPayments.com or your bank dashboard, you can:

  • 🔁 Schedule recurring RfPs via .CSV, .Excel, or JSON uploads
  • 🧠 Use ISO 20022 rich data to include invoice metadata, approval tags, payer ID, and more
  • ⬆️ Upload RfP templates into compatible bank or fintech platforms
  • ⬇️ Download transaction results, status updates, and matched settlement reports

Supported Formats:

  • .CSV – Batch upload recurring requests
  • .Excel – Custom billing intervals with formulas
  • .JSON – API-ready automation for developers
  • .XML – Integration with legacy ERPs
  • ISO 20022 – For advanced, rich data messaging across networks

Recurring Payments Across FedNow® and RTP®: Interoperability in Action

FedNow® isn't an island—it’s part of a broader interoperable payment ecosystem. When integrated with RTP® (Real-Time Payments by The Clearing House), your recurring RfPs can reach even more banks, credit unions, and digital platforms—no matter where your payer banks.

What this means:

  • You can bill clients via FedNow® or RTP®—whichever their bank supports
  • Payments are cleared instantly—no card fees, no ACH delays
  • Transaction data is mirrored in both systems for clean, error-free reconciliation

This ensures your recurring billing model doesn’t fail due to network limitations or clearing house restrictions.

 

FedNow recurring payments offer several benefits for payees or businesses:

1.     Predictable Cash Flow: With FedNow recurring payments, businesses can rely on a steady stream of income at regular intervals. This predictability helps with budgeting, planning, and meeting financial obligations.

2.     Reduced Administrative Burden: Automating recurring payments through FedNow reduces the need for manual intervention and administrative tasks associated with processing payments. This frees up time and resources that can be allocated to other business priorities.

3.     Improved Efficiency: FedNow enables instant payments, eliminating the delays typically associated with traditional payment methods like checks or ACH transfers. This improves overall efficiency by speeding up the payment process and reducing payment processing times.

4.     Enhanced Customer Experience: Offering FedNow recurring payments provides convenience to customers by allowing them to set up automated payments for subscriptions, memberships, or regular bills. This enhances customer satisfaction and loyalty, as it simplifies the payment process and reduces the risk of late or missed payments.

5.     Reduced Risk of Fraud: FedNow transactions are settled instantly and irrevocably, reducing the risk of fraud compared to other payment methods that may involve checks or delayed processing. This provides greater security for both businesses and customers.

6.     Flexibility and Accessibility: FedNow operates 24/7/365, offering unparalleled flexibility and accessibility for payment processing. Businesses can initiate and receive payments at any time, enhancing convenience for both parties involved in the transaction.

7.     Competitive Advantage: Embracing FedNow recurring payments demonstrates a commitment to innovation and customer satisfaction. Businesses that offer instant, automated payment options may gain a competitive edge in the market and attract more customers.

Overall, FedNow recurring payments offer numerous benefits for businesses, including improved cash flow management, operational efficiency, customer satisfaction, and security. By leveraging this innovative payment solution, businesses can streamline their payment processes and enhance their overall financial operations.

Automate Recurring Payments with TodayPayments.com

If you’re still relying on cards, ACH, or checks for subscription and installment billing—you’re leaving time and money on the table. With FedNow® Recurring Payments, your customers authorize once, and you get paid every time—instantly.

TodayPayments.com gives you the power to:

  • 📅 Schedule recurring RfPs on autopilot

  • 📥 Receive payments 24/7 with zero delay

  • 🧾 Sync with QBO, .Excel, ISO 20022, and ERP tools

  • 🔁 Reconcile instantly using built-in reports and data tags

👉 Start automating your recurring payments today at TodayPayments.com — where every payment is real-time, every time.

 

Creation Recurring Request for Payment

We were years ahead of competitors recognizing the benefits of RequestForPayment.com. We are not a Bank. Our function as a role as an "Accounting System" in Open Banking with Real-TimePayments.com to work with Billers to create the Request for Payment to upload the Biller's Bank online platform. Today Payments' ISO 20022 Payment Initiation (PAIN .013) shows how to implement Create Real-Time Payments Request for Payment File up front delivering a message from the Creditor (Payee) to it's bank. Most banks (FIs) will deliver the message Import and Batch files for their company depositors for both FedNow and Real-Time Payments (RtP). Once uploaded correctly, the Creditor's (Payee's) bank continues through a "Payment Hub", either FedNow or RTP, will be the RtP Hub will be The Clearing House, with messaging to the Debtor's (Payer's) bank. Request for Recurring Payment

ACH and both Instant and Real-Time Payments Request for Payment ISO 20022 XML Message Versions
The versions that NACHA recommends for the Request for Payment message and the Response to the Request are pain.013 and pain.014 respectively. Version 5 for the RfP messages, which The Clearing House Real-Time Payments system has implemented, may also be utilized as there is no material difference in the schemas. Predictability, that the U.S. Federal Reserve, via the FedNow ® Instant Payments, will also use Request for Payment. The ACH, RTP ® and FedNow ® versions are Credit Push Payments.


Payees ensure the finality of Instant Real-Time Payments (IRTP) and FedNow using recurring Requests for Payments (RfP), Payees can implement certain measures:

1.     Confirmation Mechanism: Implement a confirmation mechanism to ensure that each payment request is acknowledged and confirmed by the payer before the payment is initiated. This can include requiring the payer to provide explicit consent or authorization for each recurring payment.

2.     Transaction Monitoring: Continuously monitor the status of recurring payment requests and transactions in real-time to detect any anomalies or discrepancies. Promptly investigate and resolve any issues that arise to ensure the integrity and finality of payments.

3.     Authentication and Authorization: Implement strong authentication and authorization measures to verify the identity of the payer and ensure that only authorized payments are processed. This can include multi-factor authentication, biometric verification, or secure tokenization techniques.

4.     Payment Reconciliation: Regularly reconcile payment transactions to ensure that all authorized payments have been successfully processed and finalized. This involves comparing transaction records with payment requests to identify any discrepancies or unauthorized transactions.
FREE Real-Time Payments Bank Reconciliation%
✅ "FREE" RfP Aging & Real-Time Payments Bank Reconciliation – with all merchants process with us. Real-Time Payments Bank Reconciliation

To support merchants and finance teams of all sizes, TodayPayments.com offers free downloadable templates, including:

  • Aging Accounts Receivable Worksheet: Pre-built with 15, 30, 60, 90+ day tracking
  • Bank Reconciliation Templates: Instantly match payments with deposits across batches
  • ISO 20022 File Format Samples: Plug-and-play structures for batch uploads and RfP message testing

5.     Secure Communication Channels: Utilize secure communication channels, such as encrypted messaging protocols or secure APIs, to transmit payment requests and transaction data between the payee and the payer. This helps prevent unauthorized access or interception of sensitive payment information.

6.     Compliance with Regulatory Standards: Ensure compliance with relevant regulatory standards and guidelines governing instant payments and recurring payment transactions. This includes adhering to data security requirements, fraud prevention measures, and consumer protection regulations.

By implementing these measures, Payees can enhance the finality and security of Instant Real-Time Payments using recurring Requests for Payments, thereby minimizing the risk of payment disputes, fraud, or unauthorized transactions.

 
Each day, thousands of businesses around the country are turning their transactions into profit with real-time payment solutions like ours.

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