Real-Time Payment
What is Real-Time Payment?
Real-time payments (RTP) are electronic financial transactions that are cleared and settled almost instantaneously. Unlike traditional payment systems that may take days to process, RTP systems operate 24/7/365, providing immediate access to funds for the payee.
Why It Matters
-
Improves cash flow for businesses by providing immediate access to sales revenue
-
Enhances the customer experience by providing instant confirmation of payment
-
Supports the needs of the modern on-demand economy and gig workers
-
Reduces the risk of payment failure and the need for manual reconciliation
