RTP Network Surpasses 1 Million Payments on a Single Day
September 12, 2023
The RTP network surpassed the one million daily payment milestone on Sept. 1 as more financial institutions and their customers realize the benefits of real-time payments.
According to The Clearing House, the RTP network currently transacts more than 60 million transactions each quarter.
In the title and closing space, The Clearing House said the RTP Network is used to send agent commissions, inspections fees, last-minute payment adjustments and any payments related to the real-estate mortgage closing process.
"As more banks and credit unions join the RTP network, their customers and members are experiencing the benefits of real-time payments," said Rusiru Gunasena, senior vice president of RTP Product Management at The Clearing House. "Surpassing one million RTP payments on a single day signifies the accelerating growth and demand for real-time payments on the RTP network in the United States."
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