Instant Payments

Simple, Efficient, and Secure Instant Payments

Pidgin is an Instant Payment solution created for community banks, enabling
them to process and settle their FedNow Service payments through United Bankers’ Bank.

The FedNow Service, an instant payment infrastructure developed by the Federal Reserve, allows financial institutions of every size across the U.S. to provide safe and efficient instant payment services.

Through community banks participating in the FedNow Service, businesses and individuals can send and receive instant payments in real-time, around the clock, every day of the year, allowing for greater financial flexibility when making time-sensitive payments.

Benefits for Community Banks to Offer Instant Payments

  • Meet the evolving needs of your bank customers.
  • Opportunity to attract and retain customers by offering competitive instant payment services
  • Potential to grow revenue (e.g., transaction fees, fees for new service or product offerings)
  • Reduced costs through increased efficiency (e.g., automation and operations)
  • Real-time settlement in central bank money
  • Reduced interbank settlement risk

Use Case Opportunities for Instant Payments

  • Peer-to-Peer (P2P)
    • Family and friends can immediately send and receive money electronically.
    • Consumers can pay instantly for various on-demand services, such as babysitting or dog walking.
  • Business-to-Business (B2B)
    • On-Demand Payments: Businesses can free up working capital by paying suppliers upon receipt of products or services.
    • E-Invoicing: Businesses can send an e-invoice and a request for payment that includes all the information they will need when their customer remits the requested payment.
  • Consumer-to-Business (C2B)
    • Home Service Payments: Individuals can pay upon delivery of a good or service, such as landscaping or home repairs.
    • E-Commerce: Consumers can select an instant payment option when purchasing goods online.
  • Business-to-Consumer (B2C)
    • One-Time Payments: Non-recurring disbursements such as insurance payouts or rebate claims can be paid instantly.
    • Immediate Payroll: Payroll instructions for expedited payments can be initiated immediately rather than scheduled in advance.
  • Government and Municipal Payments
    • Businesses and individuals can make payments – like tax payments to government or municipal entities, which in turn can make payments, such as tax refunds or other time-sensitive payments to businesses or individuals.

Why United Bankers' Bank Chose the Pidgin Instant Payment Solution 

United Bankers' Bank (UBB) has taken a leadership role in Instant Payments from the beginning to ensure the needs of community banks were considered and met throughout its development.

One of UBB's core values is ensuring community banks have the tools and resources needed to remain competitive, relevant, and community-based. After several years of thorough planning and development, the Pidgin instant payment application is the solution UBB identified as best incorporating community banks' operational and budgetary needs. 

UBB's Pidgin Instant Payment Platform

  • Enables community banks to settle their payments through UBB.
    • 24/7/365 Access
    • Real-time settlement
    • Payments are posted directly to your customer's account.
    • Funds remain in FDIC-insured accounts at your bank, strengthening customer retention.
  • Security.
    • Utilizes SSL Internet data encryption to secure the integrity and confidentiality of all financial information.
    • UBB's UNET.web biometric fingerprint authentication provides secure access and additional protection.
  • Meets the needs of your business and individual account holders whether you use P2P, C2B, B2C, or B2B.
    • Ability to set payment value limits
    • Option to request payment
  • Pidgin is a complete end-to-end solution that connects with current and future instant payment systems, including FedNow and RTP.
    • Utilizes the most feasible routing options: FedNow, RTP, ACH, Pidgin Network
  • Provides automated posting to your host system, customer notification, and comprehensive reporting features.
  • Supported by legendary UBB customer support, providing a friendly team of payment experts to answer your questions personally.

Instant Payment Resources

Regardless of your bank's instant payments strategy, whether you're looking to implement it immediately or test the waters first by just receiving payments, look to UBB as an expert source for all things instant payments.

UBB is ready to help your community bank's instant payment strategy take flight. Click the button below to request information and pricing.