The landscape of payments is evolving rapidly, with real-time transactions becoming the standard members expect. For credit unions looking to embrace this future, integrating with modern payment networks is key.
FLEX Credit Union Technology is committed to helping credit unions navigate this change, and our integrations with key real-time payment providers, including those connected to The Clearing House's RTP® network, position you for success.
Download FLEX's RTP Integration eGuide Today!
Understanding The Clearing House's RTP Network
Launched in 2017, The Clearing House's Real-Time Payments (RTP®) network represents a significant advancement in the U.S. payments infrastructure.
It is an instant payments system designed for financial institutions of all sizes, offering immediate, 24/7/365 payment capabilities.
Unlike traditional systems like ACH that clear payments in batches, the RTP network clears and settles payments individually in real-time with immediate finality.
Key characteristics of the RTP network highlighted in the sources include:
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Always On: Transactions can be sent and received anytime, including nights, weekends, and holidays.
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Instant Funds Availability: Funds settle in seconds and are immediately available to recipients.
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Irrevocable Payments: Once authorized and sent, payments can’t be reversed—adding certainty and reducing fraud risk (though a “request for return” feature exists).
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Credit Push Only: The payer initiates the transaction, preventing unauthorized pulls.
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Rich Data Messaging: Includes support for requests for payment and detailed remittance data.
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High Transaction Limits: As of February 2025, payments up to $10 million are allowed.
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Broad Access: Open to all insured U.S. depository institutions, with wide account coverage.
The RTP network was built to meet the criteria established by the Federal Reserve-sponsored Faster Payments Task Force. It is regulated under the FFIEC's Significant Service Provider (SSP) program, and The Clearing House's management is overseen by its boards, including an RTP Business Committee with diverse financial institution representation.
Why RTP Matters to Your Credit Union
Adopting real-time payments via the RTP network offers numerous benefits for credit unions and their members:
Improved Member Services
Provides members with faster access to funds and more efficient payment options, enhancing satisfaction. Members don't have to wait for payroll, reimbursements, or transfers.
Operational Efficiency
Streamlines processes like payroll, loan disbursements, and account-to-account transfers, reducing costs and complexities. It allows for automation of reconciliation and reduces dependency on batch-based systems.
Competitive Advantage
Helps credit unions remain competitive by offering modern payment solutions sought by members.
More Use Cases
Supports a wide range of payment scenarios across all customer segments, including P2P, A2A, B2B, and G2C. Common uses include earned wage access, merchant disbursements, and account-to-account transfers.
The Growth of the RTP Network: Statistics You Should Know
The RTP network has seen significant growth, demonstrating increasing adoption and member demand. According to The Clearing House:
- In 2024, payment value on the network jumped 94% from the previous year, reaching $246 billion.
- Volume surged 38% to 343 million transactions in 2024.
- The network finished 2024 strong, with a record 98 million transactions valued at $80 billion in Q4 2024 alone.
- The number of participating financial institutions grew 67% in 2024.
- Two-thirds of credit unions and smaller banks see instant payments as a way to increase customer satisfaction.
- 42% of transactions on the network take place outside traditional business hours – overnight, on weekends, or holidays.
- The network averages over 1 million payments per day.
- The network reaches approximately 70% of U.S. demand deposit accounts (DDAs), with technical connectivity available to institutions holding close to 90% of DDAs. Over 750 financial institutions are participants.
These statistics underscore the growing importance and adoption of the RTP network in the U.S. payments landscape.
FLEX + RTP: Your Path to Real-Time Payments
FLEX has built integrations with key providers that power real-time payments behind Corporate Credit Unions. If your Corporate CU uses any of the following providers—and you’re on FLEX—you’re already well-positioned to adopt real-time payments:
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Alacriti – used by Corporate One
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Aptys Solutions (PayLOGICS) – used by Alloya, Catalyst, Vizo Financial, and Volcorp
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Pidgin – used by Corporate America
These integrations mean you can leverage your existing FLEX platform to access real-time payment capabilities quickly and efficiently.
Ready to Modernize Your Payments?
FLEX Credit Union Technology is here to support your journey into real-time payments, including integration with The Clearing House's RTP network. We provide efficient solutions for digital transformation and sustainable growth, serving over 280 credit unions in 46 states.
Click the button below to download FLEX's FedNow and RTP Integration eGuide.
