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The development of real-time payments in the US

December 15, 2021

When it comes to payments, a sea-change is underway in the US, where a series of updates to existing payment rails, as well as the introduction of new, real-time solutions and overlay services, looks set to revolutionise payments as we know them.

Among the biggest developments of the past five years has been the launch of the Clearing House’s real-time payments network. Known as RTP, the service provides real-time gross settlement on a 24/7/365 operating model. By enabling payments to be securely settled within two to three seconds – a vast improvement compared to legacy rails – individuals and businesses are able to make and receive payments in real-time.

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