Real Time Bill Pay

To set up Real-Time Bill Pay using either a Bank Bill-pay dashboard or a Biller payment page, with merchants enrolling in RTP Service through Real-TimePayments.com, follow these detailed steps:

Steps for Real-Time Bill Pay Integration

1. Merchant Enrollment in RTP Service

1. Register with Real-TimePayments.com:

   • Merchants need to sign up on Real-TimePayments.com and enroll in their RTP Service.
   • Complete any necessary KYC (Know Your Customer) and compliance processes.

2. Configure RTP Integration:

   • Set up the RTP Service within the Real-TimePayments.com dashboard.
   • Ensure that the merchant's bank account is linked and ready to receive real-time payments.

2. Setting Up Real-Time Bill Pay

Via Bank Bill-Pay Dashboard:

1. Enable Bill-Pay Option:

   • Merchants need to ensure that their biller details are registered with the customer's bank's Bill-pay service.
   • This often involves working with the bank to ensure that biller details are correctly listed and accessible to customers.

2. Customer Authorization:

   • Customers can add the merchant as a payee in their bank's Bill-pay dashboard.
   • Once set up, they can schedule real-time payments through the RTP network.

On Biller Payment Page:

1. Integrate Payment Page:

   • Embed the Real-TimePayments.com payment widget or API on the merchant's payment page.
   • This widget should allow customers to enter payment details and authorize real-time payments via RTP.

2. Real-Time Payment Execution:

   • Once a customer authorizes a payment, Real-TimePayments.com will process the transaction through RTP, providing instant confirmation to both the customer and the merchant.

3. Ensuring Real-Time Confirmation

1. Instant Notifications:

   • Configure notifications within Real-TimePayments.com to alert both the merchant and the customer upon successful payment.
   • This can include email, SMS, or in-app notifications.

2. Payment Reconciliation:

   • Payments received via RTP should be instantly reflected in the merchant's bank account.
   • QuickBooks can be set up to automatically reconcile these payments, ensuring accurate accounting records.

4. Integration with QuickBooks

For QuickBooks Enterprise:

1. Enable ACH Payments:

   • Navigate to Customers > Create Invoices.
   • Enable ACH payment options.
   • Configure the payment method with Real-TimePayments.com for Real-Time ACH and RTP.

2. Set Up Bank Feeds:

   • Go to Banking > Bank Feeds.
   • Connect your bank account to receive Real-Time ACH and RTP transactions.

For QuickBooks Online (QBO):

1. Enable ACH Payments:

   • Go to Sales > Invoices.
   • Enable ACH payment options.
   • Configure the payment method with Real-TimePayments.com for Real-Time ACH and RTP.

2. Set Up Bank Feeds:

   • Go to Banking > Bank Accounts.
   • Connect your bank account to receive Real-Time ACH and RTP transactions.

5. Security and Compliance

1. Data Encryption:

   • Ensure all payment data is encrypted and secure.

2. Regulatory Compliance:

   • Verify that Real-TimePayments.com complies with NACHA rules, RTP, and any other relevant financial regulations.

6. Customer Support and Communication

1. Customer Instructions:

   • Provide clear instructions on how customers can set up and use real-time bill pay via their bank's Bill-pay dashboard or the merchant’s payment page.
   • Include FAQs and troubleshooting tips on the merchant's website.

2. Support Services:

   • Offer support channels (email, phone, chat) to assist customers with any issues related to real-time payments.

Example Implementation

1. Enroll in RTP Service:

   • Merchant signs up on Real-TimePayments.com and completes RTP enrollment.

2. Configure Payment Options:

   • Set up the merchant's details in the bank's Bill-pay system.
   • Integrate the Real-TimePayments.com payment widget on the merchant’s payment page.

3. Enable Real-Time Bill Pay:

   • Customers add the merchant as a payee in their bank's Bill-pay dashboard.
   • Customers use the payment widget to make real-time payments on the merchant’s site.

4. Monitor and Reconcile Payments:

   • Use Real-TimePayments.com dashboard for real-time notifications and payment tracking.
   • Automatically reconcile payments in QuickBooks.

5. Ensure Security:

   • Implement data encryption for all transactions.
   • Ensure compliance with financial regulations.

6. Support and Communication:

   • Provide detailed instructions and support for customers.
   • Set up automated notifications for payment confirmations.

By following these steps, merchants can set up Real-Time Bill Pay via either Bank Bill-pay dashboards or on their payment pages, leveraging RTP Service through Real-TimePayments.com with QuickBooks Online and QuickBooks Enterprise to provide a seamless and efficient payment experience.