Real-Time Payments

Real-Time Payments

Are you ready for faster payments? Consider the newest option BB&T is now offering: Real-Time Payments.

As one of only seven early adopter banks rolling out Real-Time Payments to clients, BB&T is at the forefront of this new offering. This innovative solution leverages technology into a business process optimization strategy for companies seeking a competitive edge.

  • 24/7 Access – Send or receive payments instantly, at any time
  • 24/7 Fraud Detection – Send and receive payments securely
  • Payment Notifications – Payer and payee receive notifications when a payment is made and funds are available
  • Flexible Messaging Options – Multiple nonpayment messages are supported, including Request for Payment, Request for Information, Payment Acknowledgment and Remittance
  • Payment Guarantee – Payments are final once authorized by a sender and submitted to the RTP network
  • Credit Push Transactions – As the payer account holder, you control payment transactions. Your trading partners aren't able to take funds from your account.
  • Security – RTP payments flow directly from one bank account to another across a secure RTP banking infrastructure

Potential Benefits for Senders

  • Reduction in days payable outstanding
  • Increase in cash on hand
  • Lowered costs from improved trade terms
  • Alternative payment method instead of wire transfer
  • Flexibility and peace of mind through a contingency payment method

Potential Benefits for Receivers

  • Reduction in days sales outstanding
  • Lower receivables processing cost
  • Easier reconciliation when remittance information is sent with the payment
  • Opportunity to speed up collections
  • Increased cash on hand to manage liquidity differently

1. When will RTP Send be available? We expect to pilot RTP Send functionality capability later this year followed by general availability.

2. What products will be leveraged to receive Real-Time Payments? CashManager OnLine, BAI Transmission, Commerce Gateway Receivables and SBO solutions will enable you to view your RTP transactions.

3. When will I be able to send more than $25,000? At this time, at an industry level, there's no immediate plan to increase the limit in 2018.

4. Are there fraud prevention solutions with RTP? When sending payments, RTP-participant Financial Institutions are required to utilize multi-factor authentication and real-time fraud and risk-screening measures prior to sending RTP transactions.

5. If I have questions about RTP, whom do I contact? Please contact your Treasury Sales Consultant or call our Client Support Team at 800-774-8179.

The ability to receive real-time payments is already available in many BB&T areas, and will soon be available throughout our footprint. RTP "Send" pilot functionality via CashManager OnLine will be available to interested commercial clients later this year—we'll keep you up to date!

To learn more about how RTP can be a great asset for your business, contact your BB&T Treasury Consultant at 800-774-8179.

How It Works

Here's an example of how Real-Time Payments can expedite the payment process in five secure steps:

Real-Time Payments

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Contact your BB&T Treasury Consultant at 800-774-8179.

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