We need your input! Learn more about what we’re doing and lend your voice to our efforts by joining the Conversations on Instant Payments group!

The Project

CU*Answers has completed the first stage of a multi-phase initiative to connect CU*BASE credit unions to the RTP^® Network, the instant payment rail from The ClearingHouse.

Once we complete our companion project to hook up to the FedNow^® Service, we will be moving on to other projects for sending funds as well as the request for payment (RfP) functionality offered by both of these new instant payment rails.

See the separate recipe for our project to connect to the FedNow^® service from the Federal Reserve

Part 1: RTP Receive

Our first project, which was implemented in December of 2023, was to hook up a solution for RTP, starting on the Receive side, so CUs can receive payments via RTP on their members’ behalf. To allow us to hop on this payment rail quickly, while still providing full access to every credit union across the cuasterisk.com network, we worked with Corporate One Credit Union and set up an integration using their third-party service provider (TSPS) connection to the RTP Network. This service can be used by any CU*BASE regardless of your credit union’s existing corporate credit union relationship(s).

As of February 2025 more than 60 network CUs have either activated RTP or are in the queue for implementation.

Sign up today in the store!

Parts 2 & 3: RTP Send and Request for Payment (RfP)

The RfP feature depends on the Send functionality being in place, so we’ll start there first. Projects in the queue so far (status is as of February 2025):

• Project #64185: Controls for Sending Funds via RTP or the FedNow Service
  Status: We have logged over 200 hours of development on this project, which creates new configuration controls in CU*BASE so they’ll be ready to use with subsequent projects. Those subsequent projects will build the actual applications and user interface for sending funds via the new instant payment rails. Project is currently waiting for available QC testing resources as well as the completion of the project that connects us to the FedNow Service (see the separate recipe).
• Project #64186: Add Instant Payments (RTP/FedNow) to CU*BASE Loan Disbursements
  Status: This project is currently in development, and is our first application that will actually utilize the new instant payment rails to send funds, using existing loan disbursement features in the CU*BASE LOS. We have logged 80 hours of development so far. 

To learn more about the controls we’re building and the “send” use cases we’re considering, check out the presentations from previous Conversations on Instant Payments events.  We hope you’ll join us for a future event!

Resources

Learn more about instant payments.

Learn more about RTP.

Sign up today to hop on the RTP rail (receive only)!

Read an overview of instant payments and the differences between the RTP and FedNow networks.

Find all of the RTP® network’s security requirements, risk management specifications, fraud control requirements, compliance criteria, and more at The Clearing House.

IMPORTANT:  Don’t wait! Your credit unions will need to be on both payment rails!  There is no interoperability between these independent payment systems, and members will not be able to pick and choose: if the payment app they are trying to use is on FedNow and your CU is only on the RTP rail (or vice versa), members won’t be able to send an instant payment using that tool! 

FAQs

If my members aren’t asking for RTP yet, how do I know the time is right to offer it?

What’s the big difference between members receiving an RTP payment and another payment such as an ACH payment into their account?

Do I need to be an ODFI in order to hook into the RTP payment rail?

Can I use another corporate credit union as my funding agent, even though I’m hooked to the rail via Corporate One?

Will I see these transactions on my ACH exception reports?

Chefs for this recipe: Dawn Moore, Nicole Cooper