Accelerate Payments with FedNow Receive: Real-Time Payments for Consumers and Small Businesses

At Bankjoy, we're excited to announce the latest enhancement to our platform: FedNow Receive. This powerful integration allows both consumers and small businesses to receive instant payments originating from external institutions via the FedNow network.

What is FedNow Receive?

FedNow Receive is designed to bring efficiency and speed to the way your customers receive funds. Whether it's a consumer awaiting a personal transfer or a small business managing daily cash flow, FedNow Receive ensures that money is transferred and settled in real-time, directly into your customer's account.

Why FedNow Receive?

Instant Access to Funds

Gone are the days of waiting for payments to clear. With FedNow Receive, funds are available immediately upon receipt, providing both consumers and businesses with the financial flexibility they need.

Elevate Your Business Cash Flow

For small businesses, cash flow is the lifeblood of operations. FedNow Receive allows businesses to quickly receive payments from clients, partners, and other institutions, enabling them to manage their finances more effectively. Whether it's paying suppliers or meeting payroll, businesses now have faster access to their money, which can make a significant difference in their day-to-day operations.

Increased Efficiency and Reduced Costs

By automating payment processes and reducing the reliance on traditional payment methods, FedNow Receive streamlines operations, cutting down on costs associated with payment processing. This efficiency translates to more savings for your institution and your customers.

Real-Time Settlement in Central Bank Funds

The integration of FedNow Receive means that all transactions are settled in real-time with central bank funds, ensuring the utmost security and reliability for your customers. Whether they are individuals or small businesses, they can trust that their funds are available when they need them most.

Empower Your Customers with FedNow Receive

With FedNow Receive, your customers, whether consumers or small businesses, can now receive money faster, giving them greater control over their financial lives. This enhancement is particularly beneficial for businesses, as it allows them to elevate their cash flow and keep their operations running smoothly.

For more information on how FedNow Receive can benefit your institution and your customers, please reach out to your Customer Success Manager.