Trice modernizes businesses with instant bank payments (RTP and FedNow)

Since our launch earlier this year Trice has onboarded over 30 organizations to instant bank payments experiences

Built From The Ground Up

Our strategy is?"build from the?ground up" in order to reduce cost for our customers and create the most scalable high performance instant payments?gateway available in the market.? Instant payments is NOT ACH, so taking shortcuts like converting or extending?an ACH gateway for instant payments reduces performance, increases cost, and significantly reduces?functionality.? Fundamentally, upgrading from batch processing to individual real-time money movement is a disrupter that required us to re-think a payment platform?and build specifically in a sub-second settlement framework.?

Ultimately, this?means that you won't be pay for things that Trice has already built in natively.? Our competitors have hidden license fees, 3rd party?transaction monitoring services, AML software and other compliance measures that have been outsourced or licensed from third parties.? We consider these elements native services or the Trice platform?and have worked with our bank partners to build each component with a compliance first mindset.??Over the last year and a half, we've built instant, irrevocable money movement with native AML and fraud protection in order to support our customers on day 1 of their instant payments transaction.

Trice's strategy allows us to price our services competitively and provide customers?access to instant payments via FedNow and RTP through our bank partners.

Some notable features of the Trice?instant payments?gateway include:

• API first, built for developers
• RTP outbound transfers with network reach of 69%
• FedNow outbound transfers with extends?reach to 79%
• Request for Payment network reach 40% today (Welcome Wells Fargo!), growing to approximate 50% year end.
• 20 transactions per second (TPS) around the clock performance
• "OFF Core" architecture - Trice does not?rely on core banking technology but rather is built on a modern, cloud based technology infrastructure designed for instant settlement.
• Portability - Trice supports both FedNow and RTP as a TPSP (Third Party Service Provider) which when combined with the "OFF Core" architecture allows near instant enablement for new bank partners.

Instant Payments Use Cases

Some high impact customer use cases we are facilitating for outbound transfers include:

• Payouts platforms
• Gig worker payouts
• Cash advances
• Business payouts
• Bank account verification

Request for Payment is here!

Trice is excited to be one of the first certified gateways to support Request for Payment (RfP).? The current network reach for RfP is 40% an expected to reach >50% by year-end.

RfP is a unique and powerful new pay method in the?US payment ecosystem because it facilitates an instant and irrevocable deposit.? RfP is far superior to slow ACH Debit and much more cost effective than debit card capture.? RfP lends itself very well to these use cases:

• ANY ONLINE DEPOSITS?
• Gaming account loads
• Merchant gift cards and wallet loads