New York – As consumers seek greater control over day-to-day cash flow and businesses demand faster, more flexible liquidity management solutions, the RTP® network is seeing record adoption across both retail and corporate use cases. The nation’s largest instant payments system, operated by The Clearing House, recently set new single-day records for both payment volume and value, milestones that reflect how instant payments are essential in today’s economy.

On Friday, February 13 the RTP network, which carries 98% of all bank-to-bank instant payments volume in the United States, processed 2.05 million payments – the first time the network has met or exceeded 2 million transactions in a single day. The new milestone surpasses the previous record of 1.91 million payments set just one week earlier.

 

In addition, on Wednesday, February 18, the RTP network reached a new single-day value record of $8.36 billion.

 

Consumers Increasingly Managing Finances in Real Time

The new volume record reflects increasing consumer reliance on instant payments as households navigate a period defined by persistent inflation and more intentional spending patterns. Across the U.S., a growing share of consumers report lower disposable income and are adjusting financial habits accordingly. With roughly 25% of U.S. households living paycheck to paycheck, many are turning to real-time payments to better control cash flow, make payments at precisely the right moment, and access funds when they are needed most.

 

The record-setting day was driven by steady growth in consumer use cases, including:

• Digital wallet transfers, as consumers move funds back into checking accounts to cover everyday expenses.
• Earned Wage Access (EWA) disbursements, enabling workers to receive wages they have already earned in seconds rather than waiting for traditional pay cycles.
• Account-to-Account (A2A) transfers, allowing individuals to consolidate funds and pay bills immediately.
• Gig economy payouts, enabling gig economy workers to instantly cash out after a shift, or even after each completed delivery or rideshare trip.

As consumers become more intentional about spending and reduce discretionary outlays, the ability to move money instantly has become an essential cash management tool, especially as they move money between their digital wallets and bank accounts. The acceleration in RTP volume highlights how instant payments are increasingly embedded in consumers’ day-to-day financial life, particularly for households closely managing budgets.

 

“Consumers are using instant payments not just for convenience but as a critical way to manage their budget in real time, whether it’s accessing earned wages, transferring funds from digital wallets, or moving money between accounts to cover bills,” said Jim Colassano, Senior Vice President of RTP Business Product Management at The Clearing House. “Surpassing two million payments in a single day is a significant milestone for the RTP network.”

Corporates Drive Value Growth

The record value day, meanwhile, reflects accelerating adoption among corporate customers and financial institutions (FIs) leveraging the RTP network’s $10 million transaction limit to move larger sums instantly.

 

Financial institutions and corporate treasury teams are increasingly using the RTP network to move funds for:

• Cash concentration and liquidity management
• Portfolio rebalancing and investment funding
• Large supplier and business-to-business (B2B) payments
• Intercompany and time-sensitive treasury transfers

The ability to send up to $10 million per transaction enables corporations and FIs to optimize working capital and reduce counterparty and settlement risk while maintaining immediate funds availability.

 

More than 1,100 FIs are now live on the RTP network, the RTP network is extending instant payment capabilities to a broad and growing base of consumers and businesses nationwide. Payments clear and settle in seconds, 24/7/365, with immediate confirmation and rich messaging functionality that supports a wide range of modern payment experiences.

 

About The Clearing House
The Clearing House operates U.S-based payments networks that clear and settle more than $2 trillion each day through wire, ACH, check image, and real-time payments. It is the nation’s most experienced payments company, with a long track record of providing secure and reliable systems, payments innovation, and strategic thought leadership to financial institutions. In 2017, The Clearing House revolutionized U.S. payments by introducing the RTP® network, which supports the immediate clearing and settlement of payments, along with the ability to exchange related payment information across the same secure channel. These RTP capabilities enable all financial institutions to offer safer, faster, and smarter digital transaction services for their corporate and retail customers. Learn more at www.theclearinghouse.org.

 

Media Contact:

Greg MacSweeney
The Clearing House
212-612-9282
Gregory.MacSweeney@theclearinghouse.org