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• ~ Automate Account Payable Payments
• ~ One-time and Recurring Debits / Credits

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Implementing Real-Time Discounts for QBO Merchants Using POS Systems with FedNow API

Integrating the FedNow API (https://FedNowAPI.com) with QuickBooks Online (QBO) and Point of Sale (POS) systems can enable merchants to offer real-time discounts to customers. This enhances the purchasing experience and provides immediate benefits to customers. Here’s a comprehensive guide to implementing this system:

Steps to Implement Real-Time Discounts via FedNow API

1. Integration with FedNow API:

• API Setup: Integrate the FedNow API with your QBO system and POS. This integration enables real-time payment processing and discount application during the transaction.
• Configuration: Configure the settings within QBO to set up the discount rules and ensure they are applied when payments are processed through FedNow.

2. Define Discount Rules:

• Percentage or Fixed Amount: Decide on the discount structure (e.g., 5% off the total purchase or a fixed $5 discount) for transactions completed using FedNow.
• Conditional Discounts: Establish specific conditions for discounts, such as minimum purchase amounts, specific product categories, or promotional periods.

3. Automate Discount Application in POS:

• POS Integration: Ensure the POS system is integrated with QBO and the FedNow API so that discounts are applied automatically at the point of sale.
• Real-Time Calculation: The POS system should calculate and apply the discount instantly when the customer opts for FedNow as the payment method.

4. Update Invoicing and Receipts:

• Reflect Discounts: Ensure that invoices and receipts generated by the POS system show the applied discounts clearly, providing transparency to customers.
• Customer Notification: Include detailed information about the discount and the final amount paid on the receipt.

5. Marketing and Communication:

• Promotional Campaigns: Advertise the availability of real-time discounts through various marketing channels, such as in-store displays, online ads, and email newsletters.
• Customer Education: Inform customers about the benefits of using FedNow for payments, including the immediate discounts they can receive.

Benefits to Customers

• Immediate Savings: Customers receive instant discounts at the point of sale, enhancing their purchasing experience and providing immediate savings.
• Transparent Pricing: Real-time discounts ensure transparent pricing, making it clear to customers how much they are saving by using FedNow.
• Incentivized Use of FedNow: Offering real-time discounts encourages customers to use FedNow, leading to faster, more secure, and cost-effective transactions.
• Enhanced Shopping Experience: The convenience and immediacy of receiving discounts improve the overall shopping experience, fostering customer satisfaction and loyalty.

Example Scenario

1. Customer Purchase: A customer selects items worth $100 at a QBO merchant's store.
2. Payment via FedNow: The customer chooses FedNow as the payment method at the POS.
3. Automatic Discount Application: The POS system, integrated with the FedNow API, applies a 10% discount automatically, reducing the total to $90.
4. Real-Time Payment Confirmation: The payment is processed in real-time, and the customer receives instant confirmation of the payment and the applied discount.
5. Receipt Generation: The receipt shows the original price, the discount applied, and the final amount paid, ensuring transparency.

Steps for Merchants

API Integration:

• Work with a payment processor or developer to integrate the FedNow API into your QBO and POS systems.

Configure Discounts:

• Set up discount rules within QBO and the POS system, specifying when and how discounts should be applied.

Test the System:

• Conduct thorough testing to ensure that discounts are applied correctly and that the payment process is seamless.

Train Staff:

• Ensure that your staff understands the new system and can assist customers with any questions or issues.

Monitor and Adjust:

• Continuously monitor the system’s performance and customer feedback, making adjustments as needed to improve the service.

By leveraging the FedNow API, QBO merchants using POS systems can offer real-time discounts, providing immediate benefits to customers and enhancing the overall shopping experience. This approach not only drives customer satisfaction but also positions the merchant as an innovative and customer-centric business.

Call us, the .csv, text messaging and or .xml Request for Payment (RfP) file you need while on your 1st phone call! We guarantee our reports work to your Bank and Credit Union. We were years ahead of competitors recognizing the benefits of RequestForPayment.com. We are not a Bank. Our function as a role as an "Accounting System" in Open Banking with Real-Time Payments to work with Billers to create the Request for Payment to upload the Biller's Bank online platform. U.S. Companies need help to learn the RfP message delivering their bank. Today Payments' ISO 20022 Payment Initiation (PAIN .013) show how to implement Create Real-Time Payments Request for Payment File up front delivering message from the Creditor (Payee) to it's bank. Most banks (FIs) will deliver the message Import and Batch files for their company depositors for both FedNow and Real-Time Payments (RtP). Once uploaded correctly, the Creditor's (Payee's) bank continuing through a "Payment Hub", will be the RtP Hub will be The Clearing House, with messaging to the Debtor's (Payer's) bank.

Our in-house QuickBooks payments experts are standing ready to help you make an informed decision to move your company's payment processing forward.

 1) Free ISO 20022 Request for Payment File Formats, for FedNow and Real-Time Payments (The Clearing House) .pdf for you manually create "Mandatory" (Mandatory data for completed file) fields, start at page 4, with "yellow" highlighting. $0.0 + No Support

2) We create .csv or .xml formatting using your Bank or Credit Union. Using your invoice information database to create an existing Accounts Receivable file, we CLEAN, FORMAT to FEDNOW or Real-Time Payments into CSV or XML. Create Multiple Templates. You can upload or "key data" into our software for File Creation of "Mandatory" general file. Use either the Routing Number and Account Number for your Customers or use "Alias" name via Mobile Cell Phone and / or Email address.

Fees = $57 monthly, including Activation, Support Fees and Batch Fee, Monthly Fee, User Fee. We add your URI for each separate Payer transaction for additional Payment Methods on "Hosted Payment Page" (Request for file with an HTML link per transaction to "Hosted Payment Page" with ancillary payment methods of FedNow, RTP, ACH, Cards and many more!) + $.03 per Transaction + 1% percentage on gross dollar file,

3) Add integrating QuickBooks Online "QBO" using FedNow Real-time Payment using our Real-Time Discounts system.

Fees Above 2) plus $29 monthly additional QuickBooks Online "QBO" formatting, and "Hosted Payment Page" and WYSIWYG

4) Above 3) plus Create "Total" (over 600 Mandatory, Conditional & Optional fields of all ISO 20022 Pain .013) Price on quote.