As faster payment networks extend their reach and capabilities, including the latest push to enable cross-border transactions, many banks and credit unions still aren’t participating in the networks, let alone enabling a full set of use cases.
Recipient Reach Isn’t the Barrier to Faster Payments Adoption It Used to Be
For years, limited reach was a defensible reason for financial institutions to wait on participating in faster payment networks. Not any longer.
The Clearing House’s Real Time Payments (RTP) network connects roughly 71% of U.S. deposit accounts with over 1,200 financial institution participants, 30%-40% of accounts with over 1,800 financial institution participation. The two networks historically attracted FIs at opposite ends of the asset size spectrum, with the largest institutions initially adopting RTP and smaller ones adopting FedNow. New participants are enabling both simultaneously, or adding the other network as a fast follow.
Further, 2025 was a watershed moment for both networks, demonstrating a combined 700%+ year-over-year growth with over $2.3T in volume. The growth is continuing in 2026, with RTP growing 20%+ quarter over quarter and FedNow increasing 80%+ from Q1 to Q2 2026. The Clearing House also notes that 46% of transactions occur outside of traditional business hours, solidifying the value of a “24x7x365” always-on network for consumers and businesses.
In an industry where payments can be a powerful strategic growth engine, faster payments deserve more attention.
Why Customers Want Faster Payments
In its September 2026 report, “A Comprehensive Look at the U.S. Faster Payments Landscape for Optimal Operation,” the FPC compared multiple rails, including FedNow, RTP, Visa Direct, Mastercard Send, Same Day ACH, stablecoins, and tokenized deposits. The table below is adapted from that broader analysis and shows a sampling of faster payments use cases that are gaining ground, what consumers and business customers value about each, and examples of companies deploying them. For institutions weighing FedNow and RTP adoption, each one is an opportunity to grow revenue and strengthen customer retention.
| Use Case | Value Proposition | Market Traction |
|---|---|---|
| Earned wage access | Workers want to be paid when a shift ends, not 1-2 weeks later. | Brands like Uber, Lyft, DoorDash, and Daily Pay use EWA, which ~65% of gig workers now expect. |
| Insurance claims | Policyholders expect funds in hours, not weeks. | More than 30% of claims are now paid via faster payment rails as insurance brands, such as Allstate, Geico, and Progressive, embrace the functionality. |
| B2B just-in-time payments | Minimize supply chain disruption and improve liquidity by paying suppliers when goods arrive or an invoice is approved. | Cisco, IBM, and Walmart use RTP for same-day vendor payments. Instant payments in the B2B space are expected to represent 42% of all cross-border payments by 2028 at $16 trillion. |
| Account-to-account consumer bill pay | Consumers avoid late fees with immediate bill pay for things like rent, mortgages, and utilities. | Bill pay over RTP and FedNow was a key driver for overall volume, which grew 400%+ and 460%, respectively, in 2025. |
| Loan and credit funding | Personal loans, home equity lines, and By Now Pay Later (BNPL) advances are funded immediately. | Lenders can now fund loans over RTP and FedNow in under 10 seconds. |
As faster payment networks extend their reach and capabilities, including the latest push to enable cross-border transactions, many banks and credit unions still aren’t participating in the networks, let alone enabling a full set of use cases.
Recipient Reach Isn’t the Barrier to Faster Payments Adoption It Used to Be
For years, limited reach was a defensible reason for financial institutions to wait on participating in faster payment networks. Not any longer.
The Clearing House’s Real Time Payments (RTP) network connects roughly 71% of U.S. deposit accounts with over 1,200 financial institution participants, 30%-40% of accounts with over 1,800 financial institution participation. The two networks historically attracted FIs at opposite ends of the asset size spectrum, with the largest institutions initially adopting RTP and smaller ones adopting FedNow. New participants are enabling both simultaneously, or adding the other network as a fast follow.
Further, 2025 was a watershed moment for both networks, demonstrating a combined 700%+ year-over-year growth with over $2.3T in volume. The growth is continuing in 2026, with RTP growing 20%+ quarter over quarter and FedNow increasing 80%+ from Q1 to Q2 2026. The Clearing House also notes that 46% of transactions occur outside of traditional business hours, solidifying the value of a “24x7x365” always-on network for consumers and businesses.
In an industry where payments can be a powerful strategic growth engine, faster payments deserve more attention.
Why Customers Want Faster Payments
In its September 2026 report, “A Comprehensive Look at the U.S. Faster Payments Landscape for Optimal Operation,” the FPC compared multiple rails, including FedNow, RTP, Visa Direct, Mastercard Send, Same Day ACH, stablecoins, and tokenized deposits. The table below is adapted from that broader analysis and shows a sampling of faster payments use cases that are gaining ground, what consumers and business customers value about each, and examples of companies deploying them. For institutions weighing FedNow and RTP adoption, each one is an opportunity to grow revenue and strengthen customer retention.
Article Author: Bob Rohr,
Managing Director – Payments Strategy, SRM
