Instant Payments

7min

Introduction

Unlock the future of real-time payments with Cross River’s Instant Payments solution. Contact us to explore how RTP, FedNow, and CRNow can streamline and enhance your payment operations.

Why you'd be a great candidate

  • You want real-time transfers: 24/7/365 availability for instant payments.
  • You want flexible network solutions:
    • RTP® – High limits up to $1,000,000.
    • FedNow® – Broad reach, limits up to $500,000.
    • CRNow – Internal transfers within Cross River, no inherent limits.

Prerequisites

To implement Instant Payments, you need to:

  1. Register as a Cross River partner: Required for new partners.
  2. Request sandbox access: You'll need Instant Payment capabilities, including RTP via TCH, FedNow, and CRNow.
  3. Sign the service agreement: Covers RTP via TCH, FedNow, and CRNow.
  4. Complete sandbox certification: Ensure all testing is validated and certified.
  5. Obtain production access: Perform production testing to finalize integration.
  6. Enable Instant Payments capabilities: Activate services for live transactions on Cross River's banking core.

Reasons to choose Cross River

  • Always-on transfers: Instantly clear payments, 24/7/365 to ensure continuous availability.
  • Seamless interoperability: Get automatic selection of payment network.
  • Full transaction visibility: Stay informed with real-time updates for end-to-end transparency.
  • Operational simplicity: Centralize compliance, reduce development overhead, and manage payments across all networks with ease.

Cross River’s Instant Payments offer the speed, reliability, and scalability you need to stay ahead in an evolving financial ecosystem.

Key features

Cross River's Instant Payments give you:

  • Payment queuing Submit Instant Payments to participating banks when they are unavailable to receive the payment. Instead of the payment being rejected, we queue the payment until the receiving institution is online, and then automatically originate the payment. Queuing is available for both RTP via TCH and FedNow.
  • Financial institution directory Check if a financial institution uses RTP or Fed using our API. See our API tutorial.
  • Input into your daily send limit Cross River sets a daily payment limit for Instant Payments based on previous Instant Payments usage, your daily average balance maintained in your Instant Payments-eligible account, and projections you provided during onboarding.

Next Steps

Related Topics

Key Concepts

Updated 09 Feb 2025
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