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Xpress presents RTP, the revolution to online payments
XPress Processing is excited to announce our latest and greatest payment method to date.
The XPress RTP network provides both consumers and businesses with the ability to conveniently send payments directly from their accounts at federally insured depository institutions 24/7, and to receive and access funds sent to them over the network immediately.
The XPress RTP network represents a new phase of evolution within the U.S. payments industry and provides a platform for product innovation.
Immediate Availability
Recipients receive the payment within seconds of the sending bank initiating the transaction. The receiving financial institution is required to make the funds available immediately, except where necessary for risk management or legal compliance purposes.
Convenience
Customers of the XPress RTP network, are able to initiate payments from their existing bank accounts. There is no need to create an external account elsewhere.
Payment Certainty
Sending financial institutions (FI) are not able to revoke or recall a payment once it has been authorized and submitted to the network, However, there is a process to facilitate FI-to-FI communication around return of funds sent in error.
24/7
The XPress RTP network is live and operates 24/7.
Cash flow Control
The ability to send and receive immediate payments gives customers more control over cash flow, which may be particularly important for cash-constrained small businesses and consumers.
Transaction Limits
The transaction limit is currently set to $100,000.00.