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Advertise with Forbes Forbes Licensing & Syndication Report a Security Issue Editorial Values and Standards Site Feedback Contact Us Careers at Forbes Tips Corrections Privacy Do Not Sell My Personal Information Terms AdChoices Reprints & Permissions Real-Time Payments Are Soaring In The U.S. By Tom Groenfeldt , Contributor.
New research from RedCompass Labs shows that RTP and FedNow’s rising transaction limits are making instantpayments significantly more attractive for U.S. 84% of US banks say the new $10 million RTP® limit boosts its attractiveness, and 84% believe raising FedNow’s $500,000 cap will have the same effect.
Today, The Clearing House and BNY (NYSE: BK), announced the successful completion of the largest instantpayment in U.S. history and the first-ever payment on the RTP network exceeding $1 million, following the recent increase in the networks transaction limit.
RTP Network InstantPayments surged to $481 billion in Q2 2025, driven by rising demand for high-value, real-time transactions. Businesses and banks are leveraging the upgraded $10 million limit to streamline portfolio transfers, real estate deals, and B2B payments—boosting both speed and confidence in instant settlement.
Highnote , the unified platform for embedded finance and modern card issuance, today announced the launch of InstantPayments, a new capability that enables businesses to deliver near real-time payouts from Highnote-issued cards to eligible external debit and prepaid cards.
BNY is working to expand cross-border, instantpayments to new markets through the remainder of 2025 and into 2026. “We’ve been really focused on international real-time payments,” Carl Slabicki, executive platform owner of treasury services at BNY, told Bank Automation News.
The economy today is tech-driven and payment methods are a key part of that paradigm. From traditional options like credit cards to emerging solutions such as cryptocurrencies and biometrics, each payment method comes with unique advantages that cater to varying consumer needs. They remain a staple payment method globally.
The RTP network has achieved a major milestone, surpassing 1 billion payments just 18 months after crossing the 500 million transaction mark. This extraordinary increase reflects the growing demand for faster, more transparent, and always-available payment solutions from consumers, businesses, and the financial community.
Faster Payments Council (FPC), in collaboration with Volante Technologies , today released results from the 2025 Faster Payments Barometer, the latest in its series of comprehensive studies analyzing the adoption, trends, and perceptions surrounding faster payments in the U.S.
inDrive, a global mobility and urban services platform operating across 48 countries, has introduced seamless Pix via Open Finance payments for its ride-hailing and delivery services in Brazil. The feature marks the company’s first fully integrated peer-to-peer payment solution at a global level.
Instantpayments are becoming significantly more attractive for US banks finds RedCompass Labs , the payments experts, as it finds that 84 per cent of US banks say the new $10million Real-Time Payment (RTP) network limit and $500,000 FedNow cap are a good thing.
The Clearing House raised the real-time payments (RTP) transaction limit from $1 million to $10 million in February 2025. real-time payments processed for corporate clients. The bank is among the first to allow corporate clients to send payments up to the new $10 million limit, driving new business-to-business (B2B) use cases.
Joining the FinextraTV studio at EBAday 2025 in Paris, Daniel Stanton, Global Head of Transactional FX, Cross-Border RTP & Clearing at Bank of America, explained why we can be optimistic about the global banking and payments landscape.
Home News Payments Stripe buys payments API provider Orum Editorial This content has been selected, created and edited by the Finextra editorial team based upon its relevance and interest to our community. Stripe buys payments API provider Orum Stripe has acquired payments orchestration firm Orum.
From a Press Release dated June 9, 2025, Fort Lee, NJ Cross River Bank has launched its Request for Payment (RfP) solution, a new feature designed to enable secure, real-time inbound payments via the RTP® (Real-Time Payments) network.
Cross River Bank (“Cross River”), a technology infrastructure provider that offers embedded finance solutions, announced the launch of Request for Payment (RfP), a transformative addition to its growing suite of instantpayment capabilities.
The Clearing House’s Real Time Payments network is seeing growth in adoption and transaction volume as consumers, small- and medium-sized businesses and large enterprises demand instantpayment capabilities.
The Federal Reserves instantpayments network, FedNow, is gaining ground on The Clearing Houses Real Time Payments network and has added more FIs to its network than RTP since its launch in 2017. I think […] The post FedNow payment value grows 140% QoQ to $43B appeared first on Bank Automation News.
Community Your feed Latest expert opinions Groups Join the Community 23,479 Expert opinions 41,848 Total members 350 New members (last 30 days) 190 New opinions (last 30 days) 29,133 Total comments Join Sign in Stablecoin – Cross Border Payment Driver?! Economies where instantpayments are used grow a minimum of 1 to 3% per annum.
RedCompass Labs , the global experts in payments modernization, has unveiled the world’s most comprehensive payments modernization-specific AI solution, AnalystAccelerator v2.5. delivers cutting-edge applied AI models to help banks accelerate payments transformation. AnalystAccelerator 2.5’s AnalystAccelerator 2.5
Payment technology and innovation are accelerating across the fintech industry, with more companies recognising the importance of adapting to changing customer needs, with non-cash transactions projected to hit 2.3 A team of Paymentologys payment experts explore what we can expect to see in the payments industry next year.
Cross River , a banking infrastructure provider, has launched Request-for-Payment (RfP) on the RTP® network, with fintech platform Plaid as the first user enabling instant pay-ins for online used car seller Carvana. The post Cross River Unveils Request-for-Payment for Real-Time Pay-Ins appeared first on The Fintech Times.
Home News Payments Stripe joins forces with payments API provider Orum Editorial This content has been selected, created and edited by the Finextra editorial team based upon its relevance and interest to our community. Financial terms were not disclosed. Financial terms were not disclosed.
To offer businesses seamless, efficient and cost-effective cross-border transactions, Cross River Bank , a tech infrastructure provider that offers embedded financial solutions has announced the launch of its new International Payments solution.
What happens when an ongoing revolution in payment innovation meets a regulatory regime determined to ensure secure and safe transactions for individual consumers, business entities, and even governments? This is the payments landscape in the UK and EU in 2025. Founded in 2008, Boku is headquartered in London.
According to new research from payments modernisation firm RedCompass Labs , 91 per cent of banks worldwide are juggling multiple, multi-year, multi-million dollar modernisation projects, however, many are struggling to meet modernisation demands. The rate of change in payments has never been this fast – and will never be this slow again.
Carvana has implemented request for payments technology and instantpayments capabilities for down payments on vehicle purchases, allowing consumers to obtain their vehicle faster.
The Clearing Houses Real-Time Payments network is ready for cross-border payments from a technical perspective but is waiting for U.S. adoption of the network to grow to initiate the service.
Using Pix via open finance reflects inDrive’s commitment to providing limitless payment choices when using the company’s services. How it works The instantpayment system — commonly referred to in the industry as RTP (real-time payment) or A2A (account-to-account) — marks a significant breakthrough in the Brazilian market.
Volante Technologies , the global leader in Payments as a Service (PaaS), today announced the release of its fourth annual survey of mid-tier banks. Notably, the report shows that in response to these trends, mid-tier banks are planning significant additional investments in payments modernization.
Headlines trumpet the arrival of instantpayments, real-time rails, and millisecond processing times as if velocity were the sole measure of progress. Yet this singular focus on speed misses a fundamental truth: enterprises dont just want faster payments—they want smarter, more reliable, and more strategic payment systems.
FedNow is a real-time payment system created by the US Federal Reserve that went live in the summer of 2023. Its purpose is to enable instant money transfers between banks and other financial institutions, but there are person-to-person (P2P) elements as well. What is FedNow? This is the Authorization step.
Improved disbursements in the public sector As the federal government accelerates efforts to modernise payments, such as through a recent executive order aimed at phasing out paper checks by September 30, 2025, agencies and nonprofits are working to deliver digital, audit-ready payment systems.
Skip to main content CONTINUE TO SITE ➞ Dont miss tomorrows Payments industry news Let Payments Dives free newsletter keep you informed, straight from your inbox. That’s when banks are required to begin using the ISO 20022 standard for electronic payments they choose to send over that Fed real-time settlement rail.
The Clearing House continues to scale its operations with its Real Time Payments network clearing $500 billion at the end of November. The instantpayments rail, launched seven years […] The post The Clearing House’s RTP clears $500B appeared first on Bank Automation News.
Subscribe To Newsletters The Clearing House Sees Growth In Its Real-Time Payments (RTP) By Tom Groenfeldt Follow Author Share Save Comment Innovation Enterprise Tech The Clearing House Sees Growth In Its Real-Time Payments (RTP) By Tom Groenfeldt , Contributor. All Rights Reserved. Even so, the U.S
Is your financial institution fully harnessing the potential of RTP® and FedNow® to drive growth? While 'receive-only' instantpayments is a significant step forward, the true transformative power lies in actively sending payments. The stakes are certainly high. It's time to lead the charge.
Consumers and businesses took advantage of instantpayments through The Clearing House RTP network, which resulted in numerous records set in the first quarter of 2024.
Is your financial institution fully harnessing the potential of RTP® and FedNow® to drive growth? While 'receive-only' instantpayments is a significant step forward, the true transformative power lies in actively sending payments. The stakes are certainly high. It's time to lead the charge.
The RTP® network, the largest instantpayments system in the United States operated by The Clearing House , now averages over 1 million payments per day. The RTP network also set single day records of 1.46 In October, the RTP network experienced a record 31.7 Payment value on the RTP network is up 11.4%
Is your financial institution fully harnessing the potential of RTP® and FedNow® to drive growth? While 'receive-only' instantpayments is a significant step forward, the true transformative power lies in actively sending payments. The stakes are certainly high. It's time to lead the charge.
Faster Payments Council (FPC), a membership organization devoted to advancing safe, easy-to-use faster payments in the United States, today announced the release of its latest publication, Operational Considerations for Receiving InstantPayments.
The Federal Reserve’s nascent instantpayments system has collected hundreds of bank participants across the country in its first year of operations, although a few major banks are holdouts.
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