Instant tax refunds using RTP rails for fintech partners
Objectives
- Modernize tax refunds: Use an instant payment rail-agnostic solution for
RTP and FedNow to credit IRS refunds instantly upon notification - Improve accessibility: Provide 24/7 instant refunds, including weekends
- Support financial inclusion: Deliver faster refunds to meet community needs
- Collaborate with fintechs: Enable refund handling with secure APIs
- Futureproof payments: Scale infrastructure for growing demand in instant refunds.
Solution
- Virtual accounts for fintechs: Manage funds with real-time virtual ledgers for transparency and compliance.
- Unified API: Access all payment rails — RTP, FedNow, ACH, and wires through one API.
- 24/7 instant payment platform: Receive IRS tax refunds anytime, including weekends and holidays, or when their core is down.
- Seamless integration: Connect easily to existing systems for smooth tax refund processing.
- Scalable and compliant: Handle high volumes with built-in regulatory compliance.
Outcome
- Simplified payments with access to all rails through one API
- Instant access to IRS tax refunds anytime, even on weekends and holidays
- Effortless integration with existing systems for smoother operations
- Scalable solution to easily handle growing transaction volumes
- Guaranteed compliance with built-in regulatory features
90 days
to go live
