Document Exchange allows parties to share and view documents in an easy-to-read format with a payment or request for payment. Below are answers to some frequently asked questions. To find more information, visit our document library or contact us directly.
What is Document Exchange?
Document Exchange is an overlay service that enhances RTP® functionality by connecting easy-to-read documents such as bills, invoices, and remittances with payment or request for payment messages. Senders now have a way to provide a receiver with the context for a payment or request for payment at the same the payment or request is sent.
How does Document Exchange work?
Document Exchange uses a set of APIs to share easy-to-read PDF documents between parties. Each document has a unique identifier that can be included within select RTP messages (currently RTP® Credit Transfer and Request for Payment.)
How can an end-user retrieve a document that has been sent through the Document Exchange?
The receiving financial institution creates its customer experience. This could be a clickable button that retrieves and renders the document on the financial institutions online banking portal.
What documents are accepted?
Currently, Document Exchange supports the exchange of PDF documents.
Is there a file size limit?
Document Exchange currently support files up to 2 mb.
How many documents can be sent at a time?
One document can be included with each RTP Credit Transfer or Request for Payment.
Do I need to be an RTP participant?
Yes. Financial institutions must be on connected to the RTP® network directly or through a third-party and be certified to send a Credit Transfer and/or a Request for Payment.
Can I use Document Exchange with the RTP® network?
Yes. Document Exchange is compatible with RTP® Credit Transfer and Request for Payment messages. Additional messages and TCH networks may be included in the future.
Can I use Document Exchange with other TCH networks?
Additional TCH networks may be included in the future.
What are the use cases for Document Exchange?
Document Exchange is suitable anywhere you want to provide context for a payment or a request for payment. Consider the following:
- Merchant settlement with statement
- On-demand payroll with a paystub
- Payroll corrections with paystub
- Insurance payouts
- Vendor payments with remittance details
- A request for payment with a bill as a reminder for the amount owed
Who is using Document Exchange?
Document Exchange is working on an end-to-end pilot, which will be completed prior to market availability. Contact Us if your organization is interested in joining the pilot.
How is Document Exchange priced?
Pricing will be determined after the pilot is completed.
What rules govern Document Exchange?
Document Exchange participants will need to comply with the service’s participant agreement.
How does my institution join Document Exchange?
Contact TCH at firstname.lastname@example.org for more information on how to get your organization onboarded to Document Exchange today.
Curious about upcoming events and key dates?
Check out the Document Exchange key dates under Contact Us.