Alias Payment

Alias Payment – Real-Time Transactions via Mobile, Email, or SMS

Alias Payment refers to a real-time digital payment method where transactions are initiated and received using identifiers such as a cell phone number, email address, or SMS handle—instead of traditional account numbers. Supported by FedNow® and RTP®, alias-based A2A transfers provide real-time, irrevocable good funds using ISO 20022-compliant rich data messaging.

The Future of Payments Is Alias-Based and Instant

Alias payments eliminate the need to share sensitive bank account information. With support for static or variable recurring transactions, businesses can send and receive funds simply by referencing an alias—like a mobile phone number or email address—securely mapped to a registered bank account.

Enabled by ISO 20022 messaging standards, these payments move across real-time rails like RTP® and FedNow®, delivering good funds that are immediate, irrevocable, and usable the moment they arrive.

Our "Good Funds" payment gateway facilitates seamless, real-time alias-based transactions that work across all U.S. financial institutions and FinTech platforms.

Key Benefits and Features of Alias Payments with ISO 20022:

• Use of mobile number, email, or SMS as alias identifiers
• Real-time delivery of irrevocable good funds
• No need to disclose routing or account numbers
• Support for A2A intra-bank and interbank transfers
• ISO 20022 rich data formats (pain.001, pain.013, etc.)
• Upload and download RfP transactions through payee dashboards
• Static and variable recurring payments supported
• Hosted Payment Page links with alias approval
• Free reconciliation and aging reports in Excel format
• Works across all U.S. banks and FinTech-integrated systems

How Alias-Based Payments Work with FedNow® and RTP®

Alias payments begin with a Request for Payment (RfP) uploaded via a FinTech or financial dashboard. Each RfP includes an alias for the payer and payee—such as a mobile phone number or email address—plus payment details encoded in ISO 20022 XML.

The RfP is routed through RTP® or FedNow® for real-time processing. Once the payer confirms the transaction via their alias-linked channel, the funds are delivered to the payee’s account instantly and irrevocably. The system confirms success through structured return codes or status messaging.

Aliases simplify user experience while maintaining secure banking integrity.

Uploading and Downloading Alias Payment Files via Dashboards

Businesses and FinTechs can manage all alias-based transactions through secure, cloud-based dashboards connected to U.S. financial institutions.

You can import ISO 20022 XML or HTML files containing single or batch RfPs and monitor them in real time. If a transaction fails, reject codes help correct and resubmit it instantly.

Dashboards also provide:

• Real-time status tracking of alias RfPs
• Sorting and filtering by alias type, payer, or status
• Downloadable Excel reports for reconciliation and AR aging
• Batch creation tools for static and variable billing
• Integration with Hosted Payment Pages for payee-initiated completion

FedNow, as a modern real-time payment system developed by the Federal Reserve, aims to modernize the United States' payment systems by providing instant payment services that are secure, efficient, and broadly accessible 24/7/365. One of the key features of FedNow and similar real-time payment systems, such as those that utilize the RTP (Real-Time Payments) network, is the ability to conduct transactions using aliases rather than traditional banking details like account numbers (DAN) and routing numbers (RTN). Here’s an overview of how this works and the benefits it provides:

Alias-Based Payments

Alias-based payments allow individuals and businesses to use easy-to-remember identifiers, such as a cell phone number or an email address, instead of traditional bank account details. This system is facilitated through a hub platform, which securely matches the alias to the correct bank account details behind the scenes.

How It Works

1. Registration: Users register their chosen alias (e.g., phone number, email) with the payment service, which is then linked to their bank account in a secure manner.
2. Transaction Initiation: To send money, a user simply enters the recipient's alias into the payment interface. The hub platform securely identifies the linked bank account of the recipient.
3. Security and Privacy: The actual bank account details are never exposed to the sender, enhancing security and privacy. All sensitive data is handled and encrypted by the hub platform, reducing the risk of fraud.
4. Processing: The hub platform processes these transactions in real time, ensuring that funds are transferred instantly between the accounts.

Benefits

• Enhanced Security: By eliminating the need to share bank account details, the risk of fraud and data theft is significantly reduced.
• Convenience: Aliases are easier to remember and share than traditional banking details, simplifying the payment process.
• Speed: Payments are processed instantly, making funds immediately available to the recipient, which is crucial for both personal and business transactions.
• Accessibility: Users can initiate payments using various devices, including smartphones and computers, making the system highly accessible.

Practical Applications

• Personal Transactions: Individuals can send money to friends and family instantly just by using their phone numbers or email addresses.
• Business Payments: Businesses can receive payments from customers or send payments to suppliers quickly and securely using aliases.
• Freelancers and Gig Economy: Instant payments using aliases can significantly benefit freelancers and gig workers who often need fast and secure payment methods.

FedNow and other real-time payment systems incorporating alias-based transactions are part of a broader shift towards more user-friendly and secure financial technologies. This approach not only enhances the user experience by making payment processes simpler and more intuitive but also leverages advanced technology to ensure the security and immediacy of transactions.

Say Goodbye to Account Numbers – Go Alias with TodayPayments.com

Ready to modernize your payment workflows?

✅ Send and receive payments using mobile, SMS, or email aliases
✅ Get good funds instantly—real-time, irrevocable, usable
✅ Use ISO 20022 rich data for accurate, auditable payments
✅ Upload and manage transactions via dashboard
✅ Eliminate manual ACH files and outdated banking forms
✅ Perfect for recurring billing, B2B, C2B, A2A, and subscription models

Start processing secure alias payments today at https://www.TodayPayments.com
Alias Payment – Instant, Alias-Based, and Built for the Real-Time Economy