Finzly Launches Request for Payment Capability on the RTP Network
Finzly has launched a new capability to support Request for Payment (RfP) functionality through its Payment Galaxy platform, certified by The Clearing House's RTP® network. This feature allows financial institutions to originate, receive, and respond to payment requests via APIs and digital experiences. RfP enables businesses or consumers to send payment requests that recipients can review and approve before the transaction is completed in seconds over real-time networks like RTP or FedNow. The capability expands beyond a bank's own channels by allowing integration with third-party platforms through APIs, enabling instant pay-by-bank features for bill payments, loan settlements, marketplace transactions, and more. Finzly’s platform supports multiple payment rails including ACH, RTP, FedNow, SWIFT, and others, offering banks flexibility in managing different types of real-time payments. The Clearing House emphasizes the importance of growing adoption through partners like Finzly to make instant payments accessible for institutions of all sizes. With over 1,400 financial institutions on the RTP network handling more than 97% of U.S. bank-to-bank instant payment volume, this development supports broader integration and innovation in real-time banking.
Topics: APIs banking innovation digital payments Request for Payment RTP