What must participants do before submitting messages to the RTP rail?

Before participants can submit messages to the RTP (Real-Time Payments) rail, it is essential for them to conduct fraud checks. These checks are crucial to ensure the integrity and security of transactions in the fast-paced environment of real-time payments. Conducting fraud checks helps to identify suspicious activities or potential risks associated with transactions, thus protecting both the participants and their customers.

Fraud checks are a critical step in maintaining trust and safety in the payment ecosystem. By screening transactions for anomalies or patterns typical of fraudulent behavior, participants can mitigate potential losses and ensure that transactions are legitimate before they are processed through the RTP network.

The other options, while they may represent important business practices, are not requirements specifically related to submitting messages to the RTP rail. Evaluating business licenses or signing confidentiality agreements is typically part of onboarding processes or contractual agreements but does not directly impact the transaction submission process itself. Likewise, submitting transaction fees is usually a procedural or operational step but is separate from ensuring the security and integrity of the transactions being sent.