The real-time payments system has been growing its roster of banks and credit unions, as it newly competes with the Federal Reserve’s FedNow service.
The Clearing House, which is owned by a pack of large banks and is led by CEO David Watson, launched the RTP network in 2017.
About 460 banks and credit unions had signed onto the RTP network as of December 2023, a spokesperson previously told Payments Dive.
“Banks and credit unions that have joined the RTP network are seeing how instant payments can grow deposits while meeting member and customer expectations for instant payment availability, 24/7,” Weichert said in the statement.