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OPN

Open Payment Network

Solution(s): OPN, Opay
Website(s): opn.inc (Off-site)
Contact: Robert Lewis, robert.lewis@opn.inc

Inclusion of a provider in the exchange does not reflect any recommendation or endorsement by the Federal Reserve, or any relationship between the provider and the Federal Reserve. Learn more.

Services and products to support the FedNow® Service

Open Payment Network (OPN®) is a payments infrastructure platform that enables banks and credit unions to implement and innovate upon the FedNow® Service without overhauling their existing CORE systems.

Account types supported: OPN is designed to support whichever account types your financial institution chooses to enable for instant payments, accommodating your institution’s specific needs and strategic priorities without imposing limitations on product scope.

User interfaces & system integration: OPN connects to the FedNow Service through a secure, API-based architecture that integrates directly alongside existing CORE infrastructure. Financial institutions can initiate, manage and monitor instant payment transactions through OPN’s administrative dashboard and real-time reporting tools. Intelligent payment routing ensures transactions are directed across the optimal rail (e.g., the FedNow Service, wires or same-day ACH) based on transaction parameters and institution preferences. OPN’s customer-facing interface, OPay, is a financial institution-offered application that delivers instant payment capabilities to end users with ease. Designed for speed and convenience, OPay allows customers to send funds instantly with no downloads required for recipients, helping financial institutions modernize their services and meet the evolving expectations of today’s customers.

User types: OPN serves financial institution operations and payments staff, business customers, retail customers and fintech firms integrating faster payments into their product suites. Banks and credit unions across the U.S. trust OPN to compete in today’s digital environment.

Segment type(s)

  • Financial Institution Service Provider

Solution type(s)

  • Account Tokenization
  • Banking as a Service (BaaS)
  • Digital User Experience (mobile/online interfaces)
  • Digital Wallet Providers
  • Pay by Bank
  • Payment Service Providers
  • Payment Testing Platform Providers (including Sandbox Opportunities, proof-of-concept services)
  • Payments Hubs/Platforms/Payment Gateways
  • QR Code solutions

Use cases/markets served

  • Bill Pay and Presentment
  • Brokerage
  • Construction
  • Digital Wallet Funding/Defunding
  • Government (e.g., municipality, state, federal)
  • Health Care
  • Insurance
  • Loans (direct or indirect)
  • Merchant
  • P2P Payments
  • Payroll
  • Real Estate (e.g., escrow, property management)
  • Transportation

FedNow functionality supported

  • Connectivity to the FedNow Service via FedLine® Solutions
  • FedNow Profile Management
  • FI Staff-Initiated Transactions
  • Liquidity Management Transfers
  • Receiving FedNow Transactions
  • RFP Transactions – Businesses Receiving
  • RFP Transactions – Businesses Sending
  • RFP Transactions – Consumers Receiving
  • RFP Transactions – Consumers Sending
  • Sending FedNow Transactions – Business Accounts
  • Sending FedNow Transactions – Consumer Accounts

Ability to integrate with outside core processing solutions

  • Yes, any (core agnostic)

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Note on exchange information

Federal Reserve Financial Services (FRFS) is solely a host for the information presented in this Innovator Exchange and the inclusion or exclusion of a provider should in no way imply any relationship with, or recommendation or endorsement by, the Federal Reserve. Exchange presenters are not utilized by the Federal Reserve for the production or delivery of the FedNow Service. FRFS takes no responsibility for the content or accuracy of the information presented. Users of the exchange should perform their own due diligence on providers. See the Terms of Use and Privacy Policy for additional information.