System and method for providing a real-time payment between a customer financial institution account and a merchant financial institution account for a transaction based on a direct communication between a user device and a point-of-sale device

A method performed by a payment facilitator device external to a real-time payment (RTP) network, the method comprising:

• receiving, by one or more processors of the payment facilitator device from a point of sale (POS) device of a merchant, a payment request comprising a transaction amount of a transaction and a device identifier of a user device participating in the transaction, wherein the device identifier is obtained by the POS device from the user device during a direct communication with the user device;
• in response to receiving the payment request comprising the device identifier of the user device, generating, by the one or more processors of the payment facilitator device, a customer authorization request for the received payment request;
• transmitting, by the one or more processors of the payment facilitator device, the customer authorization request to the user device based on the device identifier in the payment request;
• receiving, by the one or more processors of the payment facilitator device, a customer authorization for the transaction from the POS device of the merchant;
• and
• providing, by the one or more processors of the payment facilitator device, a payment authorization to a real-time payment (RTP) network external to a sponsor financial institution associated with a customer financial institution to initiate a real-time payment (RTP) network external to the payment facilitator device for an RTP for the transaction amount of the transaction from the sponsor financial institution to a merchant financial institution account, based on receiving the customer authorization for the transaction.

A non-transitory computer-readable medium storing instructions that, when executed by a processor of a payment facilitator device external to a real-time payment (RTP) network, cause the processor to:

• receive, from a point of sale (POS) device of a merchant, a payment request comprising a transaction amount of a transaction and a device identifier of a user device participating in the transaction, wherein the device identifier is obtained by the POS device from the user device during a direct communication with the user device;
• in response to receiving the payment request comprising the device identifier of the user device, generate a customer authorization request for the received payment request;
• transmit the customer authorization request to the user device based on the device identifier in the payment request;
• receive a customer authorization for the transaction from the POS device of the merchant;
• and
• provide a payment authorization to a sponsor financial institution associated with a customer financial institution to initiate a real-time payment (RTP) network external to the payment facilitator device for an RTP for the transaction amount of the transaction from the sponsor financial institution to a merchant financial institution account, based on receiving the customer authorization for the transaction.