What Is ISO 20022 Messaging & How Does It Enhance FedNow® & RTP®?

Understanding ISO 20022 Messaging for Real-Time Payments

Requests Payment Using ISO 20022 Messaging with FedNow® & RTP® – Instant A2A Debit Transactions for B2B, C2B, B2C

The Evolution of Instant Payments with ISO 20022

In today’s digital economy, businesses and consumers expect faster, more secure, and efficient payments. Yet, traditional banking systems still rely on outdated processes that create delays, high fees, and reconciliation issues.

ACH payments take 1-3 business days, slowing transactions.
Wire transfers come with high costs and restricted banking hours.
Credit card transactions charge businesses 2-4% in processing fees.

With the integration of ISO 20022 messaging, businesses can now send and receive Requests for Payment (RfP) using FedNow® & RTP® (Real-Time Payments) for A2A (Account-to-Account) debit transactions—ensuring faster, more structured, and cost-effective financial operations.

Imagine a system where businesses can request payments, receive funds instantly, and eliminate manual processing errors—24/7/365.

TodayPayments.com explains how ISO 20022 messaging enhances Requests for Payment (RfP) with FedNow® & RTP® to revolutionize A2A debit transactions for B2B, C2B, and B2C payments.

Creation Request for Payment Bank File

Enhance Your Requests Payment 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.