Do you know your bank or credit union could join The Clearing House’s Real-Time Payments network as “receive only?” Instead of diving into the deep end, smaller, more cautious banks and credit unions can opt for faster payments in one direction. After becoming accustomed to how well this works, your customers will be demanding even more faster payment options.
Don’t take it from us, listen to VSoft’s Payments Professor:
“I highly recommend that as an option of getting started: Get your feet wet and get used to working with the reporting and the messaging. Get used to working with the speed of which everything is going to be operating and then you'll be able to know how it's going to work as far as your policies and your procedures on just the receive side.”
This slow but steady adoption will “make it a lot easier to then jump over to the sending side, too,” he adds.
“Having said that, it's possible to just jump in doing everything correctly and getting started to where you are sending and receiving,” says the Payments Professor. “But if you want to choose just to “receive only,” that option is available with real-time payments.”
Watch the Payments Professor video on Youtube.