The Forwardly team is proud to announce that the much-anticipated Instant Payment feature has been officially released.
Designed to help small business owners and accountants simplify their cash flow through instant payments, Forwardly is the first of its kind in the United States: a real-time payment (RTP)-enabled cash flow management tool for small businesses. With no monthly fees, accepting payments through Forwardly offers potential savings of up to 80% when compared with alternative payment options. Payments can also be received 24/7/365 regardless of bank hours or holidays.
“This has been a project close to my heart for years,” says ForwardAI, maker of Forwardly, CEO Nick Chandi. “Other countries have been using real-time payments systems since as early as 1973. The TCH RTP payment system has been available for banks to develop in the USA since 2017. But time and time again, banks have underprioritized developing small business tools. Small businesses are the backbone of the economy, and we’re here to help them thrive.”
Forwardly’s early supporters are also excited about getting their clients paid faster than ACH: Hari Venmuri, owner of AvVa Consulting Inc., said improving the payments process is a critical need for his clients. “As a CPA, I place tremendous value in providing the best service to my clients, specifically by improving the payment workflow experience for them,” he said. “Forwardly’s new real-time payment solution checks all the boxes. When I tell my clients I can save them money on fees and accept payments faster, they can’t wait to sign up.”
“I’ve worked in accounting for more than 20 years and have witnessed many changes and improvements in payment processing systems that small businesses use,” said Christanne K. Wright, EA Founder of Your Wright Resource LLC. “The major pain points for small business clients have always been high fees for credit card processing and three-to-five day wait times to receive funds. I’m thrilled to introduce Forwardly’s platform to my clients as it significantly reduces fees and provides them with immediate payment receipts. Forwardly is truly a game-changing long-term payment solution for my small business clients.”
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