PaymentsJournal
No Result
View All Result
SIGN UP
  • Commercial
  • Credit
  • Debit
  • Digital Assets & Crypto
  • Digital Banking
  • Emerging Payments
  • Fraud & Security
  • Merchant
  • Prepaid
PaymentsJournal
  • Commercial
  • Credit
  • Debit
  • Digital Assets & Crypto
  • Digital Banking
  • Emerging Payments
  • Fraud & Security
  • Merchant
  • Prepaid
No Result
View All Result
PaymentsJournal
No Result
View All Result

In the Next Step for RTP, Truist Pilots Bill Pay Solution

By Wesley Grant
April 25, 2025
in B2B Payments, Emerging Payments, Instant Payments, Merchant, News
0
0
SHARES
0
VIEWS
Share on LinkedIn
truist rtp

Calculator, bills and hands of woman in home office with laptop, finance and checking cost. Remote work, bookkeeping and freelancer at desk with tax invoice, paperwork and budget for online project.

Truist is launching a bill pay solution for RTP, introducing an alias-based Request-for-Payment (RfP) platform within RTP, the instant payments platform operated by The Clearing House.

The solution will leverage 150 million available mobile and email tokens to keep user data confidential.

Although the service will be available to both consumers and businesses, Truist highlighted the benefits for large corporate billers. These include immediate acknowledgment of payment receipt—speeding up the reconciliation process—and faster access to funds, which should improve liquidity.

The financial institution also noted that the system would strengthen data management and security, while potentially reducing costs.

Expanding to B2B

There has been much speculation about when real-time payments networks will play a larger role in the U.S. payments landscape, and there have been significant recent strides in this direction. For example, the RTP network saw the total value of its processed instant payments nearly double in 2024.

While most payments on RTP were initiated by businesses, nearly all of them last year were business-to-consumer transactions. In an effort to expand its use to business-to-business payments, the Clearing House raised the network’s payment cap from $1 million to $10 million.

A Step in the Right Direction

Some of the proposed business use cases for RTP have been real-estate and supply chain transactions. However, both RTP and FedNow haven’t gained traction with retailers because they currently only allow users to send money—there is no request functionality.

Although it’s typically the customer who taps their debit card in a retail store, it is actually the merchant who initiates the payment request for these transactions. Currently, this functionality is not supported on RTP or FedNow. Additionally, the networks aren’t yet able to provide merchants with an approval code when a payment is declined.

While these issues will likely keep instant payments on the backburner for U.S. retailers, RTP’s expanded bill pay capability is a step in the right direction.

0
SHARES
0
VIEWS
Share on LinkedIn
Tags: B2BBill PayFedNowInstant PaymentsMerchantRTPTruist

    Get the Latest News and Insights Delivered Daily

    Subscribe to the PaymentsJournal Newsletter for exclusive insight and data from Javelin Strategy & Research analysts and industry professionals.

    Must Reads

    fraud consortium

    Why Breaking Down Data-Sharing Barriers Is Critical to Fighting Fraud

    October 30, 2026
    hardware-bound payment card authentication

    Why Authentication Is a Revenue Strategy, Not Just a Fraud Control

    October 29, 2026
    credit union small business banking

    How Credit Unions Can Win Over Small Businesses

    October 28, 2026
    global stablecoin adoption

    A Global View: Why Stablecoins Look Different in Every Market

    October 27, 2026
    stripe stablecoin

    Stablecoins and the Threat to Traditional Bank Deposits

    October 26, 2026
    global cross-border payment infrastructure

    A New Payment Rail Is Not a Global Payment Solution

    October 23, 2026
    stablecoins in banking

    As Stablecoins Mature, Financial Institutions Face a Crossroads

    October 22, 2026

    Automation to Accountability: Governing AI in Fraud and Disputes 

    October 21, 2026

    Linkedin-in X-twitter
    • Commercial
    • Credit
    • Debit
    • Digital Assets & Crypto
    • Digital Banking
    • Commercial
    • Credit
    • Debit
    • Digital Assets & Crypto
    • Digital Banking
    • Emerging Payments
    • Fraud & Security
    • Merchant
    • Prepaid
    • Emerging Payments
    • Fraud & Security
    • Merchant
    • Prepaid
    • About Us
    • Advertise With Us
    • Sign Up for Our Newsletter
    • About Us
    • Advertise With Us
    • Sign Up for Our Newsletter

    ©2026 PaymentsJournal.com |  Terms of Use | Privacy Policy

    • Commercial Payments
    • Credit
    • Debit
    • Digital Assets & Crypto
    • Emerging Payments
    • Fraud & Security
    • Merchant
    • Prepaid
    No Result
    View All Result