Instant Payments Expert Guidance

Accelerate Your Organization’s Readiness for Instant Payments

GETTING FAMILIAR WITH THE FEDNOW SERVICE – FAQS

Instant Payments are cleared and settled within seconds and are available to senders and receivers on a 24x7x365 basis. In the U.S., today, there are two Instant Payments services: The Real-Time Payments (RTP) network operated by The Clearing House (TCH), and FedNow, operated by the Federal Reserve with a planned implementation date of July 2023.

Now is the time for your organization to evaluate how and when it will incorporate FedNow into its payments strategy.

Wespay Advisors can help your organization:

Understand how Instant Payments fit into your organization’s Treasury Management and payments offerings
Identify Instant Payments use cases for your business and consumer account holders
Evaluate staffing requirements in a 24x7x365 processing environment
Implement Instant Payments fraud prevention and mitigation strategies
Develop Instant Payments operational policies and procedures

Why choose Wespay Advisors to provide direction on Instant Payments?

Instant Payments are cleared and settled within seconds and are available to senders and receivers on a 24x7x365 basis. In the U.S., today, there are two Instant Payments services: The Real-Time Payments (RTP) network operated by The Clearing House (TCH) since 2017, and FedNow, operated by the Federal Reserve with a planned implementation date of July 2023.

Wespay Advisors has experience in assisting clients through all phases of implementing new Instant Payments services, which include:

Building a customized Instant Payments plan for your organization that compliments your existing suite of payment services
Assessing the effectiveness of your organization’s payment operations, fraud mitigation, and Treasury Management capabilities to ensure you’re prepared for the 24x7x365 Instant Payments environment
Deploying payments SMEs to help augment your existing project staff to help you meet your in-process Instant Payments implementation project milestones
Evaluation of your Instant Payment capabilities against industry sound practices and regulatory compliance requirements to improve operational efficiency, mitigate risk, grow revenue, and improve customer experience

Contact us for a free consultation on preparing your organization for Instant Payments at [email protected].