immediatepaymentservice.com

What It Is

TodayPayments.com presents a FedNow® instant payment solution for U.S. businesses, with a focus on combining the Federal Reserve’s FedNow real-time account-to-account settlement capabilities with QuickBooks Online (QBO) invoicing, bookkeeping, and automated reconciliation workflows. Its core value is enabling merchants, professional services firms, and businesses to accept payments over real-time A2A/B2B rails, with “good funds” confirmation, irrevocable settlement, and 24/7/365 availability.

Core Capabilities and Payment Coverage

Based on the site content, the service supports FedNow Account-to-Account payments and covers use cases such as B2B, P2B, and B2C. It also supports RfP (Request for Payment), allowing payment requests to be initiated from invoices. Technical features include ISO 20022 rich messaging, end-to-end encryption, real-time fraud monitoring, and transaction limits of up to $500,000, depending on the bank. Its QBO integration is a key selling point: it can connect via API or partner plugins to provide invoice payment links, real-time ledger updates, and automated reconciliation, making it suitable for reducing manual matching and write-off work.

Pricing and Costs

The website does not disclose TodayPayments.com’s own platform fees, transaction fees, or monthly fees. The content only provides examples of how businesses can configure payment costs in QBO, such as offering a 2% cash discount for FedNow payments, adding a 2% surcharge for credit card payments, and setting service fees or convenience fees. In other words, the service emphasizes reducing reliance on credit card networks by steering users toward FedNow payments, but the actual total cost still needs to be confirmed, including platform fees, bank charges, and compliance restrictions.

Pros and Cons

The advantages are fast funds availability and strong settlement finality, which can reduce risks such as credit card chargebacks, NSF returns, or payment reversals. The QuickBooks integration can also help automate the invoice-to-cash workflow. The downsides are that the publicly available information is incomplete, especially regarding the operating entity, licenses, banking partners, fee schedule, and SLA. In addition, FedNow is primarily a domestic U.S. bank account network rather than a cross-border acquiring solution, and transaction limits are also subject to the participating financial institution.

Best Fit and Access from China

This solution is best suited for U.S. domestic B2B collections, supplier payments, professional services billing, and high-value payments that require settlement certainty. For Chinese companies without a U.S. bank account, U.S. entity, or QBO-based workflow, the fit is limited. The site content provides no information about access from mainland China, so its availability there is unknown. As alternatives, users may compare Stripe, Square, Bill.com, Melio, Dwolla, or FedNow services offered directly by banks.