Real-time payments: The time is now

Demand to move money quickly is stronger than ever; new research from U.S. Bank suggests that embracing real-time payments can give businesses a crucial advantage. RTP is taking off. Are you missing out?

Real-time payments: The time is now

Demand to move money quickly is stronger than ever; new research from U.S. Bank suggests that embracing real-time payments can give businesses a crucial advantage. RTP is taking off. Are you missing out?

Ride the wave of real-time payments

The early bird catches the worm, so the old saying goes. First-mover advantage is real and is being harnessed by businesses around the world. Amazon’s role as the first online bookseller cemented its place as a household name; and the likes of Uber and Airbnb earned cult status for being the first to disrupt their respective industries.

Today in the U.S., major transformation is under way in payments, thanks to real-time payments (RTP) through the RTP® network. And the first movers are already beginning to realize the benefits.

Offering immediate payments – reducing ‘pending anxiety’ and de-risking money movement – RTP is quickly gaining traction as businesses prioritize speed and convenience when sending and receiving money.

And since the maximum transaction limit was raised in April from $100,000 to $1 million, even more opportunities have opened up for businesses to benefit from the RTP network.

New research from U.S. Bank, based on a survey of 1,000 major U.S. companies predicts that adoption of RTP is set to soar:

38% of companies already use it today

and by 2024, this will rise to 56%

What is RTP?

Learn more >

“

RTP can create a distinct competitive advantage for organizations that decide to embrace it, and that competitive advantage for businesses could be additional new sources of revenue; cost and operational efficiency; being able to create ‘wow’ moments for their customers; and being able to negotiate better terms and conditions with their vendors and business partners. The world is their oyster.

”

ANURADHA SOMANI

Head of Payments, Global Treasury Management at U.S. Bank

Early RTP adopters reaping rewards

Some leading companies truly understand this opportunity and are already reaping the rewards. Our research shows that companies that have already harnessed the RTP opportunity – a group we call the ‘RTP Leaders’ – are reporting business benefits that go beyond the traditional role of finance. In the past two years, they’ve performed better than the companies that don’t use RTP and don’t even plan to – the ‘RTP Laggards.’

Here, we explore the RTP opportunity, and crucially, how you can grasp it – before someone else does.

In the first quarter of 2023, companies made more than 52 million RTP transactions, totaling $25 billion – a 5% growth in volume and 8% growth in value over Q4 2022, according to The Clearing House.

Companies that have seen an increase in the following metrics over the last year

41% of RTP Leaders saw revenue rise over the last year, compared to just 33% of RTP Laggards

39% of RTP Leaders saw an increase in profits over the same period, versus just 30% of RTP Laggards

44% of RTP Leaders have seen their brand reputation improve in the last year, compared to just 30% of RTP Laggards

Early RTP adopters reaping rewards

Some leading companies truly understand this opportunity and are already reaping the rewards. Our research shows that companies that have already harnessed the RTP opportunity – a group we call the ‘RTP Leaders’ – are reporting business benefits that go beyond the traditional role of finance. In the past two years, they’ve performed better than the companies that don’t use RTP and don’t even plan to – the ‘RTP Laggards.’

Here, we explore the RTP opportunity, and crucially, how you can grasp it – before someone else does.

Companies that have seen an increase in the following metrics over the last year

41% of RTP Leaders saw revenue rise over the last year, compared to just 33% of RTP Laggards

39% of RTP Leaders saw an increase in profits over the same period, versus just 30% of RTP Laggards

44% of RTP Leaders have seen their brand reputation improve in the last year, compared to just 30% of RTP Laggards

In the first quarter of 2023, companies made more than 52 million RTP transactions, totaling $25 billion – a 5% growth in volume and 8% growth in value over Q4 2022, according to The Clearing House.

Explore further

Man holding a cell phone at his desk, seated in front of two monitors and a laptop in a home office.

The rise of RTP: Are you missing out?

RTP is a rising star, and in two years, the majority of U.S. firms will be using it. What are the use cases, and how can it power your business success?

Find out what RTP is all about >

Man standing in front of pallets and holding a tablet in a warehouse.

Getting started

Companies are taking payments transformation seriously, but making the move to RTP comes with challenges. How can you overcome them and start reaping the rewards?

Find out how to get started >

Woman leaning over desk and looking at laptop on a manufacturing floor.

Meet the RTP Leaders

Some companies have been using RTP for years, and are enjoying the rewards. How have they done it? And how can you do the same?

Find out more about the RTP Leaders >

Three people pointing and working at a whiteboard.

Make the leap

Today RTP is an emerging opportunity, but it will soon become table stakes. Act now or risk getting left behind.

Find out why to act now >

Explore further

The rise of RTP: Are you missing out?

RTP is a rising star, and in two years, the majority of U.S. firms will be using it. What are the use cases, and how can it power your business success?

Find out what RTP is all about >

Getting started

Companies are taking payments transformation seriously, but making the move to RTP comes with challenges. How can you overcome them and start reaping the rewards?

Find out how to get started >

Meet the RTP Leaders

Some companies have been using RTP for years, and are enjoying the rewards. How have they done it? And how can you do the same?

Find out more about the RTP Leaders >

Make the leap

Today RTP is an emerging opportunity, but it will soon become table stakes. Act now or risk getting left behind.

Find out why to act now >

About the research

The data in this report comes from a survey of financial professionals commissioned by U.S. Bank and conducted by FT Longitude, a Financial Times company, in May and June 2022.

1,000 U.S. based financial leaders responded across business and professional services, government, telecoms and utilities, higher education, hospitality and leisure, technology and fintech, automotive, transportation and logistics, commercial real estate and construction, consumer (including retail), financial services and insurance, health, and manufacturing, industrials and chemicals.

Job role and industry breakdown:

About the research

The data in this report comes from a survey of financial professionals commissioned by U.S. Bank and conducted by FT Longitude, a Financial Times company, in May and June 2022.

1,000 U.S. based financial leaders responded across business and professional services, government, telecoms and utilities, higher education, hospitality and leisure, technology and fintech, automotive, transportation and logistics, commercial real estate and construction, consumer (including retail), financial services and insurance, health, and manufacturing, industrials and chemicals.

About the research

The data in this report comes from a survey of financial professionals commissioned by U.S. Bank and conducted by FT Longitude, a Financial Times company, in May and June 2022.

1,000 U.S. based financial leaders responded across business and professional services, government, telecoms and utilities, higher education, hospitality and leisure, technology and fintech, automotive, transportation and logistics, commercial real estate and construction, consumer (including retail), financial services and insurance, health, and manufacturing, industrials and chemicals.