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Routable Teams Up With FedNow for Expanded Instant Payments Coverage
Routable, the leading accounts payable automation platform, announced the availability of FedNow instant payments for Routable customers.
“With the rise in demand for instant payments, businesses are seeking greater flexibility. FedNow substantially increases our coverage for instant payments so we can better support our customers,” commented Omri Mor, Co-Founder and CEO of Routable. “By expanding access to instant payments, our customers have more control over when and how to pay their vendors and contractors.”
With FedNow augmenting Routable’s existing Real-Time Payments (RTP) offering, Routable customers now have the ability to send instant payments to up to 85% of US bank accounts. In particular, FedNow expands instant payment availability for customers transacting with smaller or regional banks.
Instant payments are available through Routable 24/7/365 so companies can send funds in seconds – even on weekends and holidays. Routable displays which vendors are eligible to receive instant payments, enabling customers to choose the best method for every payment.
“FedNow democratizes access to instant payments, enabling more financial institutions to participate,” said Abhijeet Ranadive, Chief Product Officer at Routable. “We are excited to bring this offering to our customers.”
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