RTP Network expands request for payment availability

Broker dealers, billers and suppliers using the RTP Network can now request a payment from their customers through secure bank channels and receive an instant payment in response from consumers and businesses, network administrator The Clearing House announced today. Several financial institutions are currently offering request for payment (RfP) through the network while others have received certification to do so.

TCH said it has worked with RTP participants to enhance the risk management framework for RfP and mitigate potential misuse. Initial permitted use cases of RfP include consumer bill pay, business-to-business payments and account-to-account transfers. The organization expects the number of permitted use cases to expand as market adoption grows and participants gain experience with RfP.