PaymentsJournal’s Post

Milestone... RTP® Network Has Billion Dollar Day   https://lnkd.in/epF9PPEP Payment volume growing as well as payment value, as use cases increase. "Consumers and businesses sent over $1 billion in instant payments on June 28 over the RTP® network, a single day record for the largest instant payments system in the United States, operated by The Clearing House. The RTP network also experienced a record 82 million transactions in the second quarter, valued at a record $55 billion, as financial institution customers continued to use the network for all types of instant payments". #b2bpayments #realtimepayments #instantpayments

Milestone... RTP® Network Has Billion Dollar Day   https://lnkd.in/gjBTirvf Payment volume growing as well as payment value, as use cases increase. "Consumers and businesses sent over $1 billion in instant payments on June 28 over the RTP® network, a single day record for the largest instant payments system in the United States, operated by The Clearing House. The RTP network also experienced a record 82 million transactions in the second quarter, valued at a record $55 billion, as financial institution customers continued to use the network for all types of instant payments". #b2bpayments #realtimepayments #instantpayments

A historical milestone was made on June 28 where over $1 BILLION in instant payments was sent over the RTP® network, marking a single-day record for the largest instant payments system in the United States, operated by The Clearing House! Don't be left behind in planning for this rapidly expanding channel... reach out if you'd like to discuss your faster payments journey and how Bottomline can help! #payments #finance #record #RTPnetwork #instantpayments #TheClearingHouse

This RTP network milestone underscores the growing adoption and impact of real-time payments across various industries. Excited to see how instant payments continue to transform the financial landscape. #RTP #RealTimePayments #Fintech #Innovation #Payments The Clearing House

82M RTP transactions. $55B in value. Another standout quarter for the #RTP® network. 📈 We're proud to close out the first half of 2024 with continued momentum as demand for #InstantPayments soars. Financial institutions on the RTP network are seeing deposits grow, while meeting customer expectations for instant payments. Learn more: https://lnkd.in/gjBTirvf

🚀 RTP Network Sets Record with $1 Billion in Instant Payments! 🏦 On June 28th, the RTP network, operated by The Clearing House, processed over $1 billion in instant payments in a single day—a new record for the U.S. 📈 Q2 Highlights: 82 million transactions: A quarterly record. $55 billion in transaction value: Up 30% from Q1. 7% growth in payment volume: Reflecting expanding adoption. The surge in transaction value and volume is a testament to the widespread adoption of the RTP network for various use cases, including account-to-account transfers, title insurance and mortgage payments, gig economy payouts, and earned wage access. Margaret Weichert, Chief Product Officer at The Clearing House, says, "Banks and credit unions on the RTP network are seeing how instant payments grow deposits while meeting 24/7 expectations." #PaymentsInnovation #RTPNetwork #InstantPayments #FinTech

US Consumers and businesses have taken advantage of #instantpayments through The Clearing House RTP network, which resulted in numerous records set in Q1 2024. The network experienced a record 76 million transactions in the first quarter, valued at $42 billion. March was also a record month with nearly 27 million transactions, and March 1st is now the single day with the most transactions at over 1.25 million. The organic volume growth comes from customers of financial institutions who use the network to move money and make payments instantly https://lnkd.in/dyFWHszx

The Clearing House, operators of the RTP Network and private sector ACH network Electronic Payments Network (EPN), reported that real-time transaction volumes for EPN increased 8% in 2023. That’s more than 19 billion transactions during the year, worth $52.4 trillion total. Real-time payments aren’t just the new normal, they’re the future of money movement. #realtimepayments #payments #RTP #bankingtrends

FedNow and TCH's RTP Network are gaining momentum with FedNow passing the 400-participant mark and RTP processing 74M payments worth over $39B in Q4 2023. Financial institutions that wait to deploy instant payments risk losing their business and consumer customers/members to competitors that are supporting instant payments today. SRM (Strategic Resource Management) PayCLT, U.S. Faster Payments Council The Clearing House. #payments #instantpayments #fednow #rtprevolution

The RTP® network has made significant strides in bringing instant payments to financial institutions and their customers. TCH is dedicated to expanding #instantpayments for all financial institutions and have close to 700 FIs live on the network, which equals 68% of U.S. demand deposit accounts. Read more about the RTP network's progress, including growing transaction volumes, in this article from American Banker: https://lnkd.in/gjjie-xa