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RTP Use Cases


Digital Wallets


The transfer of money from one of the many increasingly popular digital wallets to a customer’s bank account can be delayed due to legacy payment systems that do not match the needs of today’s customers.


Real-time payments over the RTP® network allow customers who want to transfer value from their stored digital-wallet to their bank accounts to make those transfers instantaneously, removing payment friction and stress for the customer.

Many consumers use digital wallets to send money to friends and family or pay merchants. Apple Pay, CashApp, PayPal, Oportun (Digit), SamsungPay, and Venmo are examples of digital wallets. When most individuals want to move funds from their digital wallet to their bank account, that money is transferred through an ACH transaction. However, this transaction can cause a delay of a day or more before the funds are available in the consumer’s bank account. If a consumer needs the funds in an emergency, it becomes extremely frustrating. Real-time payments over the RTP network removes delays with traditional payment methods and allows consumers to access their money in seconds.

With real-time payments over the RTP® network, account holders can receive their money at any time, 24/7. Financial institutions that offer real-time payments on the RTP network allow their customers and members to move money to their bank account faster than other payment methods, thus improving customer satisfaction and increasing deposits at the bank or credit union.