Adopters of the service will be able to start their real-time payment journeys with TCH RTP immediately and add the FedNow Service when the new network is ready. Since joining the FedNow Pilot Program in early 2021, Volante has been working closely with the Federal Reserve and other pilot participants, including banks, credit unions, and industry bodies.
The cloud Payments as a Service (PaaS) provider is a prospective participant in the Federal Reserve's FedNow Service Provider Showcase, which is designed to highlight service providers' technical and consultative capabilities related to instant payments.
Volante's ISO 20022-fluent service incorporates end-to-end processing of TCH RTP real-time payments, including value-added service messages like Request-for-Pay. It features a sandbox for testing, training, and onboarding, and low-code integration to core and legacy payment systems.
Volante will provide a similar range of capabilities for the FedNow Service across a spectrum of use cases, helping institutions to focus on bringing compelling real-time and instant payment products to market, independent of the clearing and settlement network.
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