About
RTP is the US instant-payment network of The Clearing House (TCH), a payments company owned by large US banks; it launched in 2017, six years before the Federal Reserve's FedNow service went live. Payments settle instantly and with finality, 24/7, up to USD 10 million each, and carry ISO 20022 data. Consumers reach RTP through their bank's app for account-to-account transfers, while businesses use it for wallet payouts, gig-economy disbursements and tax-refund disbursements. Any federally insured depository institution can join without owning TCH. In Q2 2026 its more than 1,357 participants sent 142 million payments worth USD 576 billion.
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