Top RfP Test Cases, Use Cases, and Case Studies We’re Watching

Posted by Kristen Jason on 29 Oct 2021

Request for Pay (RfP) is a functionality offered by TCH’s RTP® Network that allows a company or individual to send a “request” to be paid for a good/service. The receiver needs only to click a button to accept, and the payment is sent in real-time at that moment or at a scheduled date. Bill payers don’t have to worry about keeping track of various bill pay systems, and billers accelerate their receivables and benefit from a good funds model, meaning no failed payments due to NSF or incorrect account information. RfP is said to have the potential to revolutionize bill pay as we know it. There are some exciting RfP test cases already in market today, here are a few of the ones that we’re watching right now:

BNY Mellon

In May 2021, BNY Mellon was the first bank to offer RfP to corporate clients (white-labeled as Real-Time E-Bills and Payments). They were also the originator of the first ever TCH RTP transaction in 2017. According to BNY Mellon, key advantages of RfP for billers include higher straight-through processing levels, faster collections, simplified reconciliation, increased transparency, and lower costs. For the bill payers, they benefit from better convenience, transparency, and control of their cash flow. It’s expected that this solution will be particularly appealing to businesses where there is very high volume, and a need to quickly collect payments e.g., utilities, credit card companies, cable, internet, and cell-phone providers. 

In September, wireless carrier Verizon collaborated with BNY Mellon and Citigroup to expedite delivery and processing for their bills. In this partnership, BNY Mellon is the billing bank, Verizon is the biller, and Citi is the consumer’s bank. They are emphasizing to customers that this service is a way to avoid overdrafts. This is a convenient alternative for customers who have weekly budgets or irregular income streams, making automatic bill payments unfeasible. 

Chase Bank

In August 2021, Chase Bank announced that they are launching a B2B payment option using RfP, which will enable immediate wholesale payments between companies and certain consumer to business transactions (e.g., buying a car). For the buying a car example, consumers who aren’t taking out a loan can make a real-time digital payment instead of cash, cashier’s check or wire transfer. For corporates, this will be helpful because with better transparency, corporates will know when they were paid in real-time so they can ship a product or provide a service. For example, a gas distribution company can get paid on the spot after replenishing gas tanks instead of waiting for ten days because of the paper invoicing involved. In particular, smaller firms that are burdened by paper billing, ACH and wire fees will benefit. Approximately 42% of B2B payments are still done using paper checks. The full scale launch will include other The Clearing House RTP Network participant banks, and eventually B2C and B2B use cases. 

U.S. Bank

To provide new efficiencies, U.S. Bank allows billers to use RfP through portal, batch, and API-drive origination experiences. A payment related message is sent by the biller to customers through their bank, and the biller’s customer approves the payment. The biller then receives a status notification: payment, scheduled payment, or rejection. Richard Erario, executive vice president and head of global treasury management for U.S. Bank said, “Right now, we’re among a handful of financial institutions that have enabled RfP for billers, but we expect that number to grow considerably in 2022. Adoption by more financial institutions is critical to RfP’s success.”

Learn more about RfP in Request for Pay (RfP)--Exploring the New Frontier of Bill Payments.

Alacriti’s Cosmos for RTP® enables financial institutions and organizations to quickly and seamlessly connect to The Clearing House’s RTP® network without the burden of significant infrastructure overhauls or capital investments. To speak with an Alacriti real-time payments expert about RfP, please contact us at (908) 791-2916 or

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Kristen Jason Associate Director, Product Marketing Kristen is responsible for marketing strategy and content for Alacriti while staying abreast of industry trends. She offers over 17 years of marketing experience, including 8 years of experience in financial technology and payments. Kristen holds a Bachelor of Science in both Psychology and Business Administration from Florida A&M University and a M.B.A from the University of Central Florida.

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