Import Real-Time Payments

To import a Real-Time Payments (RTP) Request for Payment (RFP) file into your Bank or Credit Union’s dashboard, you need to follow certain steps based on the file format (ISO 20022 XML, CSV, JSON, or XML) and your institution’s dashboard capabilities. The process involves securely uploading the file into the institution’s system, validating the data, and monitoring the status of the request. Here is a general guide to help you import an RTP Request for Payment file into your bank or credit union’s dashboard.

Step-by-Step Guide to Importing RTP Request for Payment File into Your Financial Institution's Dashboard

1. Obtain the Request for Payment (RFP) File

Ensure you have the correct Request for Payment (RFP) file ready for import. This file may be in different formats, including:

• ISO 20022 XML: The most common format for real-time payment systems like FedNow.
• CSV: A more simplified text file format.
• JSON: Often used in modern web-based APIs and systems.
• XML (Non-ISO 20022): A custom XML format that may be used by your system.

The file should include the necessary details such as:

• Debtor (Payer) Information
• Creditor (Payee) Information
• Amount
• Payment Date
• Payment Reference (e.g., an invoice or payment request ID)

2. Log Into Your Financial Institution’s Dashboard

• Open the bank or credit union’s online banking dashboard or business portal.
• Ensure you have the necessary permissions (e.g., admin or finance-level access) to import payment files.

3. Navigate to the Payment Section or File Upload Section

• Look for sections such as Real-Time Payments, Request for Payments, or FedNow in the dashboard.
• In some institutions, this option may be listed under File Uploads, Payments, or Transfers.

4. Upload the Request for Payment (RFP) File

Depending on the format of the RFP file you have, follow these instructions:

For ISO 20022 XML Format:

1. Select ISO 20022 XML as the file type from the upload options in your bank’s dashboard.
2. Upload the XML file from your local storage.
3. The system will validate the XML schema (in this case, pain.013.001.07 for Request for Payments) and extract the relevant fields, such as payer, payee, amount, and payment reference.
4. Ensure that the XML follows the correct structure for the institution's real-time payment request system.

Example: ISO 20022 XML Request for Payment (pain.013.001.07)

xml

<?xml version="1.0" encoding="UTF-8"?>

<Document xmlns="urn:iso:std:iso:20022:tech:xsd:pain.013.001.07">

  <FIToFIPmtReq>

    <GrpHdr>

      <MsgId>RFP-123456789</MsgId>

      <CreDtTm>2024-09-13T10:30:00</CreDtTm>

      <NbOfTxs>1</NbOfTxs>

    </GrpHdr>

    <PmtReq>

      <ReqdColltnDt>2024-09-14</ReqdColltnDt>

      <PmtTpInf>

        <SvcLvl>

          <Cd>URGP</Cd>

        </SvcLvl>

      </PmtTpInf>

      <Dbtr>

        <Nm>Jane Smith</Nm>

        <PstlAdr>

          <Ctry>US</Ctry>

        </PstlAdr>

      </Dbtr>

      <DbtrAcct>

        <Id>

          <IBAN>US987654321098765432</IBAN>

        </Id>

      </DbtrAcct>

      <Cdtr>

        <Nm>Acme Corporation</Nm>

        <PstlAdr>

          <Ctry>US</Ctry>

        </PstlAdr>

      </Cdtr>

      <CdtrAcct>

        <Id>

          <IBAN>US123456789012345678</IBAN>

        </Id>

      </CdtrAcct>

      <Amt>

        <InstdAmt Ccy="USD">1500.00</InstdAmt>

      </Amt>

      <RmtInf>

        <Ustrd>Invoice Payment Request for Invoice-98765</Ustrd>

      </RmtInf>

    </PmtReq>

  </FIToFIPmtReq>

</Document>

For CSV Format:

1. If your bank supports CSV uploads, select CSV as the file format.
2. Upload the CSV file, ensuring it has the required fields, such as:
   • Transaction ID
   • Payee Information
   • Payer Information
   • Amount
   • Payment Date
   • Reference

Example: CSV File Format for Request for Payment

csv

RequestID,CreditorName,CreditorAccountNumber,DebtorName,DebtorAccountNumber,Amount,Currency,DueDate,Reference

RFP-12345,Acme Corporation,123456789,Jane Smith,987654321,1500.00,USD,2024-09-14,Invoice Payment Request for Invoice-98765

3. Some systems may require field mapping where you align your CSV columns to the system’s required fields (e.g., "Amount" in your CSV maps to the "Amount" field in the system).

For JSON Format:

1. Select JSON as the file format, if supported.
2. Upload the JSON file, which should include all payment details in a structured format.

Example: JSON File Format for Request for Payment

json

{

  "RequestForPayment": {

    "RequestID": "RFP-12345",

    "Amount": {

      "currency": "USD",

      "value": "1500.00"

    },

    "Creditor": {

      "Name": "Acme Corporation",

      "AccountNumber": "123456789"

    },

    "Debtor": {

      "Name": "Jane Smith",

      "AccountNumber": "987654321"

    },

    "DueDate": "2024-09-14",

    "Reference": "Invoice Payment Request for Invoice-98765"

  }

}

For Custom XML (Non-ISO 20022):

1. Select XML as the file format if the bank accepts non-ISO 20022 XML files.
2. Ensure the XML structure is aligned with the required schema by your institution.
3. Upload the XML file and proceed to map the fields as necessary.

5. Validate and Review the File

• After uploading, most systems will validate the file to check for errors.
• Ensure the following fields are validated:
  • Payer Information (e.g., account number, name)
  • Payee Information
  • Amount (should match the expected payment)
  • Payment Reference (ensure it links to the correct invoice or payment request)

If there are errors in validation (e.g., missing fields, incorrect format), correct them and re-upload the file.

6. Confirm and Submit the Request

Once the validation is complete:

• Review the payment request details to ensure all data is correct (e.g., amount, payer, and payee info).
• Submit the request to the bank’s system for processing.

Most banks allow you to track the status of your Request for Payment after submission, so check the status page in the dashboard.

7. Monitor the Payment Status

• Once submitted, you can monitor the status of the payment request through the bank’s portal.
• The status may be updated to:
  • Pending: Waiting for approval or authorization from the payer.
  • Completed: The payment has been successfully processed.
  • Failed: There was an error processing the request, and it needs to be addressed.

8. Reconcile and Track Payment

After the payer completes the request, ensure the payment is reconciled within your accounting or ERP system. The bank’s system may also provide detailed reports that you can download for record-keeping.

Common Scenarios for RFP Uploads

B2B (Business-to-Business) Example:

• Scenario: A company submits a request for payment to a business client using the ISO 20022 XML format.
• Process: The file is uploaded, validated, and submitted through the bank’s dashboard. The payment request is linked to an invoice, and the client approves the payment through their bank.

B2C (Business-to-Consumer) Example:

• Scenario: A service provider submits a payment request to a customer for a subscription fee.
• Process: The CSV file is uploaded through the financial institution’s dashboard. The customer receives the payment request, reviews it, and authorizes the payment.

Key Considerations:

1. File Format Compatibility: Make sure your bank or credit union supports the file format you're using (ISO 20022 XML, CSV, JSON, etc.).
2. Field Mapping: For CSV and custom XML files, ensure the fields are correctly mapped to the bank’s system.
3. Validation: Review the data after uploading to avoid errors.
4. Security: Ensure the payment request is securely uploaded using SSL encryption or other secure methods offered by the bank.

Conclusion

Uploading and processing a Real-Time Payments Request for Payment (RFP) file into your bank or credit union’s dashboard involves ensuring the file format matches their system requirements, uploading the file through the payment section, and validating the information before submission. Whether using ISO 20022 XML, CSV, JSON, or custom XML, following the steps outlined will help ensure smooth processing of payment requests.

Let us at TodayPayments.com know if you need further details or help with a specific platform!