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Instant payments continue to gain traction in the US, with The Clearing House’s RTP network hitting a major milestone on 3 October after processing a record 1.8 million transactions in a single day, worth a combined $5.2 billion.
RTP network sets instant payments record
The achievement marks a new high for the nation’s largest instant payments system and signals the accelerating shift towards real-time money movement across the financial ecosystem.
The record reflects not just growing consumer demand for speed and certainty, but also the expanding range of use cases driving adoption — from gig worker payouts and account-to-account transfers to digital wallet funding and business-to-business payments.
The network’s decision earlier this year to raise its transaction limit to $10 million has further fuelled higher-value, time-critical payments, particularly in sectors such as real estate settlements, portfolio transfers, and corporate treasury management.
Jim Colassano, Senior Vice President of RTP Business Product Management at The Clearing House, said the milestone “underscores the momentum we’re seeing across the instant payments ecosystem.”
He added that it demonstrates both the scalability of the RTP infrastructure and the industry’s confidence in real-time payments as the “new standard” for US transactions.
Today, more than 1,000 financial institutions are live on the RTP network, extending access to millions of consumers and businesses nationwide.
Every new participant increases network reach and liquidity, making instant payments a viable option for more users and use cases.
The RTP network’s 24/7 availability, immediate settlement, and enhanced messaging capabilities continue to position it as a critical pillar in the evolving US payments landscape — and a clear indicator that real-time payments are moving from innovation to infrastructure.
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