Q2 Now Helps Firms Navigate Real Time Payment Rails

Q2 payment rails
  • Q2 is launching the Q2 Instant Payments Manager.
  • The new tool helps banks manage workflows for instant payment schemes, including Clearing House RTP and Federal Reserve FedNow rails.
  • The Instant Payments Manager supports multiple functions, including Request for Payment, Request for Information, Credit Transfer, and Receipt Confirmation messages.

Digital banking solutions provider Q2 Holdings unveiled its Q2 Instant Payments Manager this week. The new tool helps banks manage workflows for instant payment schemes, including Clearing House RTP and Federal Reserve FedNow rails.

The Clearing House has offered its real-time payment (RTP) rails since 2017 and the U.S. Federal Reserve is planning to launch its FedNow RTP solution this summer. The new capabilities have many U.S. firms seeking to integrate real-time payment flows into their systems to not only keep up with competing banks, but also with customer expectations. For both of these instant payment message sets, Q2’s new solution supports multiple functions, including Request for Payment, Request for Information, Credit Transfer, and Receipt Confirmation messages.

“Q2 Instant Payments Manager solves the challenges many businesses face around partial B2B payments and exchanging invoice data between billers and payers,” said Q2 SVP of Product Management Dallas Wells. “The new solution will modernize B2B payment flows and provide a competitive advantage for banks and credit unions striving for operating account deposits in a crowded commercial banking market.”

The Q2 Instant Payments Manager is a part of the company’s Q2 Catalyst, a set of commercial banking solutions. Q2 anticipates today’s offering will help banks improve their accounts receivable and payable processes by reducing the times to post and reconcile B2B payments.

Headquartered in Austin, Texas, Q2 offers a range of digital financial solutions for consumers, business clients, and fellow fintechs. The company is publicly traded on the New York Stock Exchange under the ticker QTWO, and has a market capitalization of more than $1.36 billion.

The topic of RTP among banks and fintechs has gained major headway in the U.S. this year. Earlier this week, Plaid unveiled its Instant Payouts solution. The multi-rail payout tool enables a range of financial services firms– including verticals like personal lending, marketplaces, insurance, brokerages, and digital investment platforms– to send funds instantly, 24/7 within Plaid’s Transfer product. 


Photo by Albin Berlin