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FedNow® Recurring Payments

TodayPayments.com is the go-to solution for U.S. merchants ready to modernize recurring billing. With our platform, you can activate FedNow® and RTP® recurring debit payments—backed by rich ISO 20022 data, smart automation, and real-time settlement.

We help companies eliminate delays, reduce missed payments, and automate billing at scale.

To simplify and automate recurring payment collection for businesses by leveraging real-time FedNow® and RTP® payment rails, ensuring on-time, irrevocable funding with minimal friction and maximum speed.

 

What Are FedNow® Recurring Payments and Why Do They Matter?

FedNow® Recurring Payments The New Era of Real-Time Autopay for Business Has Arrived

For businesses managing recurring billing cycles, waiting for checks to clear or credit cards to process is outdated. Welcome to the future of business cash flow: FedNow® Recurring Payments.

Using FedNow® and RTP® debit rails, your business can now collect on-time, irrevocable, and instantly-available payments with a single instruction. With features like standing approval, incentivized recurring autopay, and Request for Payment (RfP) automation, customers can easily authorize recurring bill pay once—and forget about it.

Merchants get predictable income. Consumers and businesses enjoy frictionless, secure transactions. It’s cash flow certainty in real-time.

FedNow® Recurring Payments empower businesses to automatically collect payments via Request for Payment (RfP) technology—leveraging real-time rails to debit accounts with irrevocable funds, settled in seconds.

Benefits of FedNow® Recurring & RTP® Debit Transactions:

  • 🔄 “Set It and Forget It” Recurring Billing: One-time payer authorization means no manual approvals required for each bill.
  • 💸 Instant Cash Availability: Irrevocably collected funds are immediately usable by the payee.
  • 🚫 No Chargebacks or Card Declines: Unlike credit card-based billing, FedNow® payments are final.
  • ⏳ Predictable Cash Flow: Perfect for businesses relying on monthly, quarterly, or installment-based revenue.

How it works: A Payer gives upfront standing approval to their financial institution to process future RfPs. Once authorized, each recurring payment is transmitted, settled, and available to the Payee's bank account instantly.

Attributes of FedNow® Recurring Payments for your business using instant payments

Recurring Payments That Use ISO 20022, JSON, Excel, and FinTech Dashboards

Merchants can upload, manage, and reconcile recurring transactions using multiple data-rich formats. Whether you’re using an ERP, QBO, or API gateway, your recurring FedNow® transactions integrate with ease.

File Formats and Tools for FedNow® Recurring Payments:

  • 📂 .CSV / .Excel – Easy upload for batch recurring RfPs
  • 📡 .JSON / .XML – Dynamic automation for FinTech platforms
  • 🔁 ISO 20022 – Industry-standard rich data format for itemized RfP tagging, invoice tracking, and metadata
  • 🏦 Bank dashboards or APIs – Monitor status, download reports, reconcile across systems

From invoice generation to automated clearing, your business can scale recurring revenue without manual tracking or payer intervention.

Use Cases: C2B & B2B Autopay with Standing Approval via FedNow®

FedNow® and RTP® recurring payments work for both Consumer-to-Business (C2B) and Business-to-Business (B2B) models.

Common Use Cases:

  • 💼 Software subscriptions & SaaS platforms
  • 🏠 Property management rent collections
  • 🧾 Utility companies and telecom billing
  • 🎓 Tuition and school fee payments
  • 📦 Recurring vendor or retainer-based B2B agreements

The standing approval model means customers don’t have to re-approve every payment. They authorize once—then payments continue securely on a pre-agreed schedule. This improves on-time collection rates, reduces aging A/R, and strengthens customer retention.

FedNow® recurring payments offer several benefits and encompass various features that are advantageous for payees or businesses:

Benefits:

1.     Instant Settlement: FedNow® facilitates real-time, instant payments, ensuring that funds are transferred from the payer's account to the payee's account immediately. This accelerates cash flow for businesses, providing quicker access to funds.

2.     Predictable Cash Flow: With FedNow® recurring payments, businesses can anticipate a consistent stream of income at regular intervals. This predictability aids in financial planning, budgeting, and meeting financial obligations.

3.     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.

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.     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.

6.     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.

Elements/Features:

1.     Real-Time Settlement: FedNow® enables real-time settlement of payments, ensuring that funds are transferred instantly from the payer's account to the payee's account.

2.     24/7/365 Availability: FedNow® operates round-the-clock, 365 days a year, providing businesses with continuous access to payment processing capabilities.

3.     Automated Recurring Payments: FedNow® supports automated recurring payments, allowing businesses to set up and schedule payments for subscriptions, memberships, or recurring bills.

4.     Integration with Banking Systems: FedNow® integrates seamlessly with banking systems and payment platforms, enabling businesses to initiate and receive payments efficiently.

5.     Enhanced Security Measures: FedNow® employs robust security measures to protect sensitive financial data and mitigate fraud risks, ensuring the safety and integrity of payment transactions.

6.     Real-Time Reporting and Reconciliation: FedNow® offers real-time reporting and reconciliation features, allowing businesses to monitor transaction activity and maintain accurate financial records in real-time.

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

By leveraging FedNow® recurring payments, businesses can experience accelerated cash flow, reduced administrative burden, enhanced customer satisfaction, improved efficiency, and greater security. These elements contribute to a more efficient and streamlined payment process, benefiting both businesses and their customers.

Unlock Recurring Revenue Certainty with TodayPayments.com

Why chase payments when your business can receive them on autopilot?

With FedNow® Recurring Payments through TodayPayments.com, you gain:

  • ✅ Instant settlement and irrevocable funds
  • ✅ One-time standing approval from customers
  • ✅ Fully automated recurring billing
  • ✅ Support for C2B, B2B, and subscription models
  • ✅ Seamless uploads via .CSV, Excel, JSON, and ISO 20022

Say goodbye to late invoices, declined cards, and manual follow-ups. Say hello to real-time revenue certainty.

👉 Visit TodayPayments.com and automate your recurring payments today.

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.

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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