Real-time payments are here, and banks, consumers and commercial customers all can benefit from transactions settling instantly. The Clearing House Real Time Payment network (RTP) started processing in 2017, and the Federal Reserve’s FedNow Service is expected to go live in 2023. RTP uses a shared pre-funded joint account to settle transactions, while FedNow will be linked to a bank’s master account at the Federal Reserve.
Zelle began as a P2P service that gave immediate credit to customers but settles transactions later using the Automated Clearing House, and in some cases, settlement occurs via RTP when both banks are capable. Zelle appears to be an instant payment from the user perspective — and it actually is — when it uses RTP to settle transactions in real time.
May 06, 2024
January 25, 2024
November 22, 2023
October 10, 2023
Recorded Webinar | September 13, 2023
Join the fifth and final installment of this five-part webinar series to learn from two FedNow Service banks and a Federal Reserve leader as they discuss their journeys and experiences navigating instant payments readiness and adoption.
Recorded Webinar | June 15, 2023
Hear from IntraFi, the leading provider of FDIC-insured solutions for banks, about how offering protection for large deposits can be a vital part of your bank’s balance sheet strategy.
Recorded Webinar | May 10, 2023
In part four of this five-part FedNow webinar series, join Dan Baum, Senior Vice President of FedNow Product Development, for a demo of the service.
Recorded Webinar | April 12, 2023
May 26, 2022
May 20, 2022
September 1, 2021
August 2, 2021
Press Contact
Get monthly updates on recent events and issues in the payments industry.
Promote the interests of ABA members regarding payments system issues and analyzes emerging technologies that could impact bank operations.