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Real-time payments in the USA: What is holding us back?

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  • Prabhakar, Vinay

Abstract

In November 2017, the USA finally entered the real-time account-to-account payment arena with the go-live of real-time payment (RTP) from The Clearing House. This paper explores the business opportunities RTP offers banks and financial institutions across a variety of consumer and business use cases, especially business-to-business (B2B) transactions. It also examines the unique challenges the US market poses for the adoption of RTP, relative to similar initiatives in other geographies. Finally, the paper concludes with a set of practical recommendations for financial institutions contemplating an RTP journey.

Suggested Citation

  • Prabhakar, Vinay, 2019. "Real-time payments in the USA: What is holding us back?," Journal of Digital Banking, Henry Stewart Publications, vol. 3(4), pages 361-370, March.
    • Handle: RePEc:aza:jdb000:y:2019:v:3:i:4:p:361-370
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    More about this item

    Keywords

    RTP; real-time payments; faster payments; B2B; receivables; request for pay;
    All these keywords.

    JEL classification:

    • G2 - Financial Economics - - Financial Institutions and Services
    • E5 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit

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